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.

Eren Sengezer FXStreet

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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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