March retail sales post gains, despite inflation, according to Commerce and NRF data

Commerce reported that March retail sales—at $665.7 billion—rose 0.5% compared to February and were up 6.9% annually. NRF said that in its calculation of retail sales, which excludes automobile dealers, gasoline stations, and restaurants, to focus on core retail, pointed to sales being flat on a seasonally adjusted basis from February, while rising 4% on an unadjusted basis annually, with sales off 0.7% sequentially and up 13.2% annually.

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