2024-04-16 07:00:00 ET
Summary
- U.S. retail sales smashed expectations in March, with total sales up 0.7%, ex-autos up 1.1%, and the control group up 1.1% as well.
- Non-store retailers and bars and restaurants saw the biggest year/year increase of 11.3% and 6.5%, respectively.
- For Q1 2024, the LSEG Retail/Restaurant Index is looking at a 12.7% blended estimated earnings growth rate and a 3.8% blended estimated revenue growth rate.
By Jharonne Martis
U.S. retail sales smashed expectations in March, with total sales (mkt +0.3% m/m) up 0.7%, ex-autos (mkt +0.4% m/m) up 1.1%, and the control group (mkt +0.4% m/m) up 1.1% as well. This means that Q1 GDP is likely to receive a boost from strong consumer spending. Revisions to February U.S. sales were up, and also came in strong, taking all three measures up 0.3pp to +0.9%, +0.6%, and +0.3% respectively....
Read the full article on Seeking Alpha
For further details see:
U.S. Retail Sales Rack Up Solid March Numbers