Washington – Retail sales of consumer
electronics and major appliances in March rose 3.5 percent year over year to
$8.8 billion, the U.S. Commerce Department reported.
The figures, which were adjusted for
calendar shifts and are weighted toward Best Buy’s results, also showed a 1.3 percent
decline from February.
Total retail industry sales (excluding
car dealerships, gas stations and restaurants) increased 0.9 percent seasonally
adjusted over February and 5.7 percent unadjusted year over year.
“It’s evident consumers were
feeling much better about the economy and their finances last month,” observed
Rosalind Wells, chief economist for the National Retail Federation (NRF), an
industry trade group. “Pent-up demand, combined with an early Easter and warm
spring weather, significantly boosted consumers’ moods and retail sales.”
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