CALIFORNIA BUSINESS MINUTE
Retail Sales
04-14-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
Total retail sales increased for the ninth straight month but declined over the
month according to report by the US Dept of Commerce.
The advance estimates of U.S. retail and food services sales for March, adjusted
for seasonal variation and holiday and trading-day differences, but not for price
changes, were $389.3 billion, an increase of 0.4 percent (±0.5%)* from the previous
month, and 7.1 percent (±0.7%) above March 2010.
The 0.4% overall increase for last month was boosted by sales of gasoline. Excluding
sales at gas stations, retail sales were up a slim 0.1%. The slower pace of sales for
March was expected by economists and analysts Many Wall Street analysts forecasted
that the higher prices at the gas pump would impact consumer discretionary spending.
Increases were seen in furniture and home furnishings, electronics and appliance stores,
building materials and garden supplies, food and beverage stores, health and personal
care stores, clothing and clothing accessories, sporting good, book, music and hobby
stores, general merchandise,
Decreases were seen in motor vehicles and parts dealers.
I am Tim Johnson and this has been the California Business Minute.
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