Retail sales softness in March
Sales up 0.3% last month, widely missing analysts' estimates. Consumers set for a pullback?
April 13, 2005: 8:37 AM EDT
NEW YORK (CNN/Money) - Retail sales rose moderately in March, a government report showed Wednesday, but were far below Wall Street expectations.
The Department of Commerce report said overall sales rose 0.3 percent last month, less than the 0.5 percent increase in the prior month.
Economists surveyed by Briefing.com had forecast retail sales to increase 0.8 percent for the month.
Excluding auto sales, retail sales saw a slim 0.1 percent increase. Economists, on average, had expected a rise of 0.5 percent. Ex-auto sales were up 0.4 percent in the previous month.