March Retail Sales Beat Expectations

April 14, 2010  by in UnCategorized   

By Home Furnishings Business in economic news on April 15, 2010

March retail sales increased 0.9 percent seasonally adjusted over February and 5.7 percent unadjusted compared with March 2009, the National Retail Federation said in a Wednesday report.

Furnishings and home furnishings stores outpaced that growth, rising 1.5 percent (adjusted) from February, and 6.5 percent unadjusted year-over-year.

"It's evident consumers were feeling much better about the economy and their finances last month," said NRF Chief Economist Rosalind Wells. "Pent up demand combined with an early Easter and warm Spring weather significantly boosted consumers; moods and retail sales."

Stores that sell apparel, home goods and outdoor equipment and furniture also saw big increases. Clothing and clothing accessory stores sales increased 2.3 percent seasonally adjusted month-to-month and 9.9 percent unadjusted year-over-year. Building material, garden equipment and supplies sales increased 3.1 percent seasonally adjusted over February and 3.3 percent unadjusted from last year.

Sporting goods, hobby book and music stores sales were also solid with seasonally adjusted sales increasing 1 percent month-to-month and 9 percent unadjusted year-over-year.