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Auto sales dip plays role in retail sales dip

April 24, 2017

Less automobile sales in March played a role in a dip in U.S. retail sales.

The decline, for the second consecutive month, comes on the heels of predictions of more big ticket purchases to come, according to a Bloomberg report.

"As with last year, we expect the first quarter (and especially March) weakness in auto sales to be short-lived as the job market expands. Moreover, gasoline prices have risen again in April," David Berson, Nationwide chief economist, said in a note as reported by Bloomberg. "Consequently, we look for consumer spending to rebound in April and following months."