U.S. retail sales bounce back in March

0 Comment(s)Print E-mail Xinhua, April 19, 2019
Adjust font size:

WASHINGTON, April 18 (Xinhua) -- U.S. retail sales in March rose 1.6 percent from the previous month, reaching 514.1 billion U.S. dollars, the Commerce Department said Thursday.

Data for February was unrevised from previous estimates, down 0.2 percent from January, the department said in its advance monthly report on retail and food services sales.

Total retail sales for March were up by 3.6 percent from March 2018, the report said.

Total sales for the January 2019 through March 2019 period were up 2.9 percent from the same period a year ago, the report said.

Excluding motor vehicles, parts and gasoline stations, retail sales in March increased 0.9 percent from February 2019.

Retail trade sales were up 1.7 percent from February 2019, and 3.5 percent above last year. Nonstore retailers were up 11.6 percent from March 2018, while sporting goods, hobby, musical instrument, and book stores were down 9.7 percent from last year.

The International Monetary Fund (IMF) projected the U.S. economy to grow by 2.3 percent in 2019 -- down 0.2 percentage point compared with its January estimation -- and to expand at a lower rate of 1.9 percent in 2020, according to its latest World Economic Outlook (WEO) released last week.

In March, the Federal Reserve left interest rates unchanged after concluding a two-day policy meeting, maintaining the target range for the federal funds rate at 2.25 percent to 2.5 percent.

Addressing a press conference, Fed Chairman Jerome Powell said the policymaking Federal Open Market Committee (FOMC) believes that the central bank "should be patient" in assessing the need for any change in the stance of policy.

In its latest economic projections, the Fed cut its forecast of the U.S. economic growth in 2019 and 2020, expecting a rate of 2.1 percent and 1.9 percent, respectively. Enditem

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter