US retail sales plunge by record 8.7% in March amid shutdown

AP Economics Writer

WASHINGTON (AP) – U.S. retail sales plummeted 8.7% in March, a record drop as the viral outbreak closed down thousands of stores and shoppers stayed home. Sales fell sharply across many categories: Auto sales fell 25.6%, while clothing store sales collapsed, dropping 50.5%. U.S. consumer confidence has plunged and the vast majority of Americans are hunkered down at home under shelter in place orders. Grocery store sales did jump by nearly 26% as Americans hoarded food and consumer items. A category that mostly includes online sales rose 3.1%.

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Categories: Business, US & World News

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