U.S. March Retail Sales Down 0.9% Over 2007

A slowing economy, a calendar shift with the earliest Easter in 95 years and cooler weather were reasons cited by the National Retail Federation (NRF) as contributors to a drop in March retail sales. The NRF said that retail industry sales last month (excluding autos, gas stations and restaurants) for the month declined 0.9 percent unadjusted over 2007 and 0.3 percent from February 2008.

Total retail sales, according to figures released by the U.S. Commerce Department, (including non-general merchandise categories of autos, gasoline and eateries) increased 0.1 percent unadjusted year-over-year and 0.2 percent seasonally adjusted over the prior month.

“Unseasonably cooler weather created a challenging sales environment for many apparel retailers last month,” said NRF Chief Economist Rosalind Wells. “With the earliest Easter in 95 years, the calendar shift will likely impact April sales as well. In order to get a true picture of retail performance, we will need to look at both March and April sales combined.”

Most retail sectors, including clothing and clothing accessories stores, electronics and appliance stores and furniture and building material stores, reported declines most month-to-month and in comparison to the previous year. On the other end, health and personal care stores and sporting goods stores saw sales increases.

Jewelry figures were not mentioned in the release.