Unexpected fall in retail sales

After three months of stronger-than-expected retail sales, consumers reigned in their spending in March, according to figures released by the U.S. Commerce Department. Overall retail sales (excluding automobiles, gas stations and restaurants) decreased 0.6% from February on a seasonally adjusted basis. Compared to March 2008, retail sales dropped 3.7%.

In the category of building materials, dealer sales were essentially flat at $20.5 billion between February and March. Adding in gardening supplies and equipment, the category registered sales of $24.4 billion in March, down from $24.6 billion the previous month.

LBM dealers posted sales of $23.6 billion in March 2008, showing a 10.8% decrease.

Sellers of furniture and home furnishings registered sales of $8.2 billion in March, down from $8.3 billion in February 2009. Sales in March 2008 were $9.4 billion, reflecting a 12.7% annual decrease.