Total sales in the first three-month period increased by 5.4% over the same period of the previous year.
In its published report, the Census Bureau revealed that retail and food service sales in the United States decreased by 1% in March compared to the previous month, amounting to $691.7 billion.
However, the figure was 2.9% higher than in the corresponding month of the previous year.
Total sales in the three-month period ending in March increased by 5.4% over the same period in the previous year. On a monthly basis, retail sales were down 1.2%, and the number was up 1.5% year-over-year. Food and beverage services are up 13% year-over-year.
The Census Bureau also revised the global figure for February by 0.2%, to $698.6 billion.
On the other hand, US consumer confidence improved in April from the previous month, as the main index rose 2.4% to 63.5 points.
Current economic conditions increased by 3.5% compared to March, rising to 68.5 points, while consumer expectations rose by 1.9%, to 60.3 points. However, all three indicators remained slightly down year-over-year, according to a report published by the University of Michigan.
While consumers have noted softer inflation among durable goods and autos, they still expect high inflation to continue, at least in the short term… One-year inflation expectations rose from 3.6% in March to 4.6% in April. The report said that uncertainty about inflation expectations in the near term remains significantly high, indicating that recent fluctuations in inflation expectations for the coming year are likely to continue.