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Retail sales in the U.S. saw a sharp increase in the month of March, according to a report released by the Commerce Department on Wednesday. The Commerce Department said retail sales shot up by 1.4 percent in March after inching up by 0.2 percent in February. The surge by retail sales partly reflected a significant rebound by sales by motor vehicles and parts dealers, which soared by 5.3 percent in March after tumbling by 1.6 percent in February. Excluding the spike in auto sales, retail sales rose by 0.5 percent in March after climbing by 0.7 percent in February. The increase by ex-auto sales partly reflected substantial growth in sales by building materials and garden equipment and supplies dealers and sporting goods, hobby, musical instrument and book stores, which surged by 3.3 percent and 2.4 percent, respectively. Sales by food services and drinking places also jumped by 1.8 percent during the month, while sales by gas stations plunged by 2.5 percent. The report said core retail sales, which exclude automobiles, gasoline, building materials and food services, rose by 0.4 percent in March after surging by 1.3 percent in February. Powered by Commodity Insights
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