Retail sales fall below expectations
Sales fell 0.3% month-over-month, with 0.1% expected.
The print for February was revised up to 0% from -0.1%.
Excluding auto costs, retail sales rose 0.2% month-on-month, and they rose 0.1% excluding autos and gas.
The average increase in gas prices during March was at the second fastest pace in 12 years, according to John Herrmann at Mitsubishi UFJ Securities.
Sales at gas stations fell 15.6% from last year, but were up 0.9% month-on-month.
Auto sales rose less than expected in March, and this was expected to be a drag on the headline sales gain.
The portion of retail sales that goes into GDP rose 0.1% (0.4% expected.)
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