Wage gains and easing inflation drive March US retail sales

US retail sales grew at a steady pace in March, says the CNBC/NRF Retail Monitor by the National Retail Federation. Total retail sales in the US, excluding automobiles and gasoline, were up 0.36 percent seasonally adjusted month over month and up 2.72 percent unadjusted year over year in March. That compared with increases of 0.4 percent month over month and 2.7 percent year over year in February, based on the first 28 days in February. For the first quarter, total retail sales were up 2.65 percent year over year and core sales were up 3.12 percent.

March sales were up in six out of nine retail categories on a yearly basis, led by online sales, sporting goods stores, and health and personal care stores, and up in five categories on a monthly basis.

Online and other non-store sales were up 2.48 percent month over month seasonally adjusted and up 15.47 percent year over year unadjusted. Building and garden supply stores were down 2.13 percent month over month and down 3.97 percent year over year unadjusted. Furniture and home furnishings stores were down 1.46 percent month over month seasonally adjusted and down 5.28 percent year over year unadjusted.