Through March 16, 2018 Source: US Census Bureau/Haver Analytics

Through March 16, 2018 Source: US Census Bureau/Haver Analytics

US retail sales increased by 0.6% month over month in March on a seasonally adjusted basis, according to the US Census Bureau. Total sales for the January–March 2018 period increased by 4.1% year over year. Economists predict that healthy consumer confidence, steady job gains and the impact of tax cuts will help fuel solid spending growth in the months ahead. Eight of the 13 major store categories posted positive sales results in March compared with February. Month over month, sales at grocery stores, restaurants and bars, and drugstores rose, while sales at home and garden stores, clothing and clothing accessory stores, and sporting goods and hobby stores fell. On a year-over-year basis in March, total retail sales increased by 4.5% and retail sales excluding autos increased by 4.7%. Compared with March 2017, sales at furniture stores, garden stores and general merchandise stores saw the largest increases and sales at sporting goods stores saw the biggest decrease.