The Biggest Decline Ever in US Retail Sales For March

• Fresh record one-month fall, last month was the previous record low
• March stood at -8.7%, revised to -8.3%
• Sales excluding autos and gas at -16.2% vs -7.6% expected
• Core retail sales excluding autos at -17.2% vs -8.5% expected
• Control group -15.3% vs -5.0% expected
• March control group stood at 0.0%, but was revised to -0.2% today

The modern retail sales data series dates back to 1992 and this is double the worst fall on record. All the headlines are ghastly with the control group also plunging. Although, as I said, this was expected, since the US economy is tanking, like most other major economies, except China.