Retail sales fell unexpectedly in March

WASHINGTON, April 14 (UPI) -- U.S. retail sales fell in March, contrary to economist's expectations that called for a slight gain, the U.S. Census Bureau reported Tuesday.

Advanced figures for sales of food services and retail dropped 1.1 percent in the month, coming in at $344.4 billion, the report said. Analysts had expected a 0.3 percent rise.

The monthly sales figures came in 9.4 percent below March 2008. For the year-to-date, sales are off 8.8 percent from the same period a year ago.

Motor vehicle sales are down 23.2 percent from a year ago, while sales of home furnishings, including furniture, are down 13.9 percent from a year ago. Sales of electronics have fallen 5.5 percent compared with March 2008.

Reflecting a sharp fall in the price of gasoline, sales at gasoline stations in March were 34.1 percent below March 2008. Clothing sales were down 6.4 percent.

March's figures are considered advanced and could be revised next month. But, the decline as it stands caught economists off guard. A month ago, sales fell 0.1 percent.