Market Update | April 17, 2024
March retail sales came in at a $709.6 billion rate, up 0.7% from February and up 4.0% from a $682.2 billion rate in March 2023. Excluding sales from gas stations, total sales were up 0.6% from February to a $655.0 billion rate. Year-to-date actual sales are now up 3.3% compared to Q1 2023. The largest increases in March, compared to February, came from building material and garden stores, gas stations, and online retailers. These increases helped to offset declines seen in sales at motor vehicle dealers, electronic and appliance stores, and clothing stores.