US retail sales rise 0.7% to $709.6B in March

ISTANBUL

US retail sales rose 0.7% to $709.6 billion in March, according to advance figures released Monday by the Commerce Department.

The market estimate for the figure was to show an increase of 0.4%, while the February figure was revised to $704.5 billion for a gain of 0.9%.

On an annual basis, retail sales were up 4% in March, compared to the same month of last year.

"Total sales for the January 2024 through March 2024 period were up 2.1 percent from the same period a year ago," the Commerce Department said in a statement.

The increase in figures indicate that consumer demand still remains high in the world's largest economy, and the Federal Reserve's first interest rate cut could be delayed this year.

ISTANBUL

US retail sales rose 0.7% to $709.6 billion in March, according to advance figures released Monday by the Commerce Department.

The market estimate for the figure was to show an increase of 0.4%, while the February figure was revised to $704.5 billion for a gain of 0.9%.

On an annual basis, retail sales were up 4% in March, compared to the same month of last year.

"Total sales for the January 2024 through March 2024 period were up 2.1 percent from the same period a year ago," the Commerce Department said in a statement.

The increase in figures indicate that consumer demand still remains high in the world's largest economy, and the Federal Reserve's first interest rate cut could be delayed this year.