March retail sales are out and have come in a little softer than expect at 0.3% versus 0.4% expected and down from 0.7% in February. The annual rate of growth is still a respectable at 4.4%:
In monthly terms the big winner was Department Stores:
By state it was yesterday’s mining heroes doing the lifting:
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A firmish month. MB expects sale to slow henceforth in a repeat of last year as income headwinds hold households back.
