CE, Major Appliance Sales Up In March

By Doug Olenick On Apr 18 2011 - 4:01am

WASHINGTON – Consumer electronics and major appliance retail sales posted gains in March, according to the National Retail Foundation.

The NRF said electronics and appliance store sales increased 2.1 percent seasonally adjusted last month and 3.6 percent unadjusted compared to March 2010. This is the ninth continuous month to show an increase.

The NRF was somewhat bullish on future spending saying it could continue to increase. However the steady increase in gasoline price could force consumers to cut back their discretionary spending to fill up their tank, said Jack Kleinhenz, the NRF’s chief economist.

Overall, total retail sales for March, excluding autos, gasoline stations and restaurants, increased 0.4 percent seasonally adjusted over February and 7.3 percent unadjusted year-over-year.