US: March retail sales likely to slip 0.3% - TD Economics

The research team at TD Economics expect s US March retail sales to slip 0.3% following a modest 0.1% advance in February.

Key Quotes

“Motor vehicle and gasoline station sales should pull the headline lower, as light weight vehicle sales disappointed sharply in March and retail gasoline prices dipped on a seasonally adjusted basis. A return to colder winter weather conditions along with snowstorms suggest weather-prone categories such as building materials and restaurants could take a hit as well. But excluding all of these components, the control group is expected to pick up to a solid 0.4% advance, in line with healthy labor markets conditions, steady income growth and robust consumer confidence. That would lend a decent handoff to the second quarter after a weak Q1. Our March projections would be consistent with Q1 real consumer spending near a subpar 1% pace.”