World Footwear

World

US retail sales rise again in March

Apr 24, 2024 United States
US retail sales rise again in March
Retail sales rose by 0.7% in March compared with February (seasonally adjusted), following a 0.9% rise in the previous month, reflecting continued consumer strength
According to data released by the US Census Bureau, total retail sales in March rose by 0.7% on a seasonally adjusted basis from February and by 4% on an unadjusted basis from a year earlier, as compared with gains of 0.9% on a monthly basis and 2.1% on an annual basis in February. According to the National Retail Federation Chief Economist Jack Kleinhenz, early Easter sales, larger tax refunds and higher employment have contributed to a more resilient consumption.

“March’s Census Bureau numbers confirm that consumer spending remains steady, underscoring a resilient consumer despite inflationary pressure”, Kleinhenz said. “While sales were mixed, several factors supported retail sales, including an early Easter holiday, slightly larger 2023 tax refunds and stronger payroll growth over the last three months”.

The same data also shows that core retail sales, excluding car dealers, petrol stations and restaurants, increased by 1.1% in March on a seasonally adjusted basis compared with February, and by 3.2% on an unadjusted basis compared with a year earlier. On a three-month moving basis, core retail sales rose by 3.9% in March, as compared with the same month of the previous year.


Image Credits: in.fashionnetwork.com


Related Events

  • Nov
    3
    Nov 3-Nov 4, 2024 | Michigan, United States

    Metro-Michigan Women's Wear Market

  • Nov
    19
    Nov 19-Nov 21, 2024 | Austin, United States

    The Running Event (TRE)

  • Dec
    2
    Dec 2-Dec 6, 2024 | New York, United States

    FFANY Market Week

  • Dec
    3
    Dec 3-Dec 5, 2024 | New York, United States

    Footwear Show New York Expo (FSNYE)

Related Organizations

  • FIT - Fashion Institute of Technology

    FIT - Fashion Institute of Technology

    United States
  • L&HCA - Leather & Hide Council of America

    L&HCA - Leather & Hide Council of America

    United States
  • Council of Fashion Designers of America, Inc.

    Council of Fashion Designers of America, Inc.

    United States
  • FDRA - Footwear Distributors and Retailers of America

    FDRA - Footwear Distributors and Retailers of America

    United States