WASHINGTON, April 14 (Xinhua) — U.S. retail sales dropped significantly in March amid worries that high-interest rates will spark a recession, according to advance estimates released by the U.S. Census Bureau on Friday.
Sales slid 1 percent, sharply more than the 0.4 percent decrease that Wall Street had anticipated.
March\’s numbers were also a much steeper decrease than the 0.2 percent drop in the month prior.
Sales dropped across myriad sectors, with a 1.6 percent decrease in auto sales, a 1.2 percent slide in furniture stores, and a 2.1 percent decline in electronics sales.