All Posts Tagged: 2Q
March retail sales came in lower than expected, down 0.3%, ending a disappointing first quarter for consumer spending.
For more details, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on April 15.Key observations:
- Possible reasons for the retail sales slowdown so far this year include financial market volatility earlier in the year and uninspiring political rhetoric from the presidential candidates.
- The bulk of the weakness in March retail sales data came from weak auto sales.
- The greatest positive contributions to consumer spending in March came from building materials and garden equipment.
- The subdued growth in spending is likely to reverse with greater consumer demand in the second quarter.