US Retail Sales rise 0.7% in March vs. 0.3% expected
- Retail Sales in the US grew at a stronger pace than expected in March
- US Dollar Index stays in positive territory above 106.00.
Retail Sales in the US rose 0.7% in March to $709.6 billion, the US Census Bureau reported on Monday. This reading followed the 0.9% increase (revised from 0.6%) recorded in January and came in better than the market expectation of 0.3%. Retail Sales ex Autos grew 1.1% in the same period.
"Total sales for the January 2024 through March 2024 period were up 2.1% from the same period a year ago," the press release read. "Retail trade sales were up 0.8% from February 2024, and up 3.6% above last year."
Market reaction
The US Dollar Index edged higher with the immediate reaction and was last seen rising 0.12% on the day at 106.14.
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