Retail sales sizzle in March

A 1.1 percent bump in U.S. retail sales in March represents the key sector’s largest gain since September 2012, showing economic improvement after the cold winter froze spending.

Economists warn, however, the retail industry would have to post several months of sustained sales before a true economic turn for the better.

Sales in March were led by pent-up demand in auto sales, according to the Commerce Department. But the gains were widespread, Market Watch reported, with only gasoline stations and electronics stores reporting declines.

Excluding the 3.1 percent rise in auto sales, retail sales rose 0.7 percent, the fastest pace since February 2013. Excluding the 1.3 percent drop in gasoline-station sales, retail sales rose 1.4 percent, the biggest rise since March 2010. Excluding both autos and gas, sales rose 1 percent, the fastest pace since February 2012.

In the past year, retail sales are up 3.8 percent, the report said.

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