Retail Sales Drop by Most in Nine Months
Retail sales dropped 0.4% in March, the largest drop in nine months, the Commerce Department said Friday.
The decrease, the largest since June, followed a 1% gain in February that was lower than previously reported.
Economists had forecast retail sales would be unchanged in March, Bloomberg News reported.
Seven of 13 major categories showed declines, the largest of which was a 1.5% decrease at general merchandise stores.
Demand at auto dealers fell 0.6% from the prior month, while sales excluding automobiles, gasoline and building materials fell 0.4%, Bloomberg said.
