WASHINGTON (dpa-AFX) - Reflecting the impact of the coronavirus-induced shutdown, the Commerce Department released a report on Wednesday showing a sharp decline in U.S. retail sales in the month of March.
The Commerce Department said retail sales plummeted by 8.7 percent in March after falling by a revised 0.4 percent in February.
Economists had expected retail sales to plunge by 8.0 percent compared to the 0.5 percent drop originally reported for the previous month.
Excluding a nosedive in sales by motor vehicle and parts dealers, retail sales still tumbled by 4.5 percent in March following a 0.4 percent decrease in February. Ex-auto sales were expected to slump by 4.8 percent.
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