After February retail sales inched up a by barely a hair, giving retailers a glimmer of optimism, March sales made it clear that consumers are still hunkered down.
Sales for March, which exclude automobiles, gas stations, and restaurants, decreased 0.6% from February and 3.7% from one year ago, according to the National Retail Federation.
Sales including non-general merchandise categories such as autos, gasoline stations and restaurants decreased 1.1% over February and 10.6% year-over-year, according to the U.S. Commerce Department.
“A chilly start to spring and a late Easter combined for dreary March sales,” Rosalind Wells, chief economist for NRF, said in a release. “To compensate for the Easter shift, retailers typically look at March and April together to get a better look at how their stores performed. Easter should give a much-needed boost to April sales.”
Sales at health and personal care stores were the glimmer of hope, growing 0.4% percent over last month and 3.5% over last year. Food and beverage stores sales also increased 0.5% month-to-month, but decreased 1.8% year-over-year.
The shift in Easter sales also played a role in consumer purchases of clothing and clothing accessories. Sales at those stores decreased 1.8% from February and decreased 8.7% over March 2008. Electronics and appliance stores sales decreased 5.9% month-to-month and decreased 10% year-over-year. Sales at sporting goods, hobby, book and music stores also decreased 0.9% over last month and decreased 3% percent over last year.
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