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CE, Major Appliance Sales Up In March

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.