US DATA: Mar retail sales +0.4% overall, +0.8% ex auto, and +0.6%
ex auto and gas, showing the expected slowing but broadly as expected.
But Jan-Feb sales were revised higher, so the consumer is still
supporting econ growth. March had pockets of weakness in food +0.1%,
sporting goods +0.1% and autos -1.7%, but overall looked good. Furniture
+3.6%, electronics +2.1%, healthcare +0.7% (a rebound from -0.5% in
Feb), bldg mats +2.2% (another rebound from -0.8% in Feb), clothing
+0.6%, and gasoline +2.6% were some of the strong areas. Q1 nonauto
sales are up nearly +8% SAAR vs Q4, a very good pace.
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