Retail Sales in USA
USA - Retail Sales
Retail sales record quickest growth since May 2020 in March
Retail sales grew 9.8% in month-on-month seasonally-adjusted terms in March, which contrasted February's 2.7% decrease. The result marked the strongest increase since May 2020. The reading reflected a broad-based improvement, with sales at motor vehicle and parts dealers, food and beverages and general merchandise stores all rebounding vigorously in March.
On an annual basis, retail sales rose at a quicker rate of 27.7% in March (February: +6.7% yoy), the best result on record and partly due to a low base effect. That being said, retail sales in March were well above its pre-pandemic levels. Moreover, the trend improved notably, with the annual average growth of retail sales coming in at an over one-year high of plus 3.6% in March, up from February's 1.0% reading.
Commenting on March’s print, Katherine Judge, senior economist at CIBC Economics, noted:
“This data suggests a stronger Q1 GDP growth print than previously expected, although with some categories likely unwinding gains at the expense of services ahead, the strength in retail sales will lose some luster in terms of monthly growth rates. Still, this data is an indication of the dramatic acceleration in activity that the economy is poised for in the second quarter, as spending on services will more than offset drops in any retail sales goods categories.”
FocusEconomics Consensus Forecast panelists see private consumption growing 4.3% in 2021, which is up 0.2 percentage points from last month’s forecast. For 2022, the panel sees private consumption increasing 3.1%.
United States - Retail Sales Data
|Retail Sales (annual variation in %)||2.6||3.0||4.3||4.5||3.6|
5 years of economic forecasts for more than 30 economic indicators.
United States Retail Sales Chart
United States Facts
|Bond Yield||1.92||-0.43 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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April 29, 2021
According to a preliminary GDP estimate released by the Bureau of Economic Analysis, the economy expanded 6.4% in Q1 in seasonally-adjusted annualized terms (SAAR), beating analysts’ expectations of 6.1% growth and accelerating from the previous quarter’s 4.3% rise.
United States: Fed keeps rates at effective floor in April and sustains commitment to expanding its balance sheet
April 28, 2021
At its meeting on 27–28 April, the Federal Open Market Committee (FOMC) decided to hold the target range for the federal funds rate at its effective floor of 0.00%–0.25%.
April 27, 2021
The S&P/Case-Shiller 20-city composite home price index increased 1.2% month-on-month in February, after January’s 0.9% rise.
April 27, 2021
Consumer confidence came in at 121.7 in April, up from March's 109.0.
April 15, 2021
Retail sales grew 9.8% in month-on-month seasonally-adjusted terms in March, which contrasted February's 2.7% decrease.