US retail sales growth lower-than-expected

US retail sales growth lower-than-expected

US Commerce Department said that the country's retail sales rose 0.3% in March due to the increases in sales of autos and gasoline. Wall Street economists had been expecting a rise of 0.7% in retail sales due to higher oil prices and based on the assumptions that consumers would stock up on spring clothing. Excluding auto sales, retail sales advanced just 0.1%. This is the weakest increase since April 2004. Motor vehicle and parts sales rose 0.7% in March. Sales at gas stations also pushed ahead 2.1%, reflecting the impact of higher energy prices.