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US Retail Market Rebounds in March
May 2, 2019 9:25 AM
By Rapaport News
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RAPAPORT... US retail sales showed their largest gain since September as
the economic and financial outlook stabilized, according to the National Retail Federation (NRF).
Total purchase value grew 3.6% year on year in March, with sales
rising in nearly every retail sector on a month-to-month basis, the trade organization reported earlier this week. The
Conference Board’s Leading Economic Index — which is intended to forecast future economic activity — rose 0.4% for the month.
“The index’s increase — driven by declining initial unemployment
claims, rising consumer expectations for business conditions, and gains in
financial components — suggests that the economy is poised for gains in the
months ahead,” NRF noted.
The general improvement follows a slowdown in sales at specialist jewelry stores in the first two months of the year. Combined sales for the store category in January and
February fell 5% year on year, according to data from the US
Census Bureau. Jewelry figures for March are not yet available.
The US retail forecast for April is positive, as sentiment
continues to rise, the NRF said. “Consumer outlook remains healthy and spending looks steady,” it
added.
Image: Women shopping in a mall. (Pxhere)
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Tags:
march, National Retail Federation, NRF, Rapaport News, the Conference Board, US retail sales
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