by Calculated Risk on 4/15/2021 08:45:00 AM

On a monthly basis, retail sales increased 9.8 percent from February to March (seasonally adjusted), and sales were up 27.7 percent from March 2020.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for March 2021, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $619.1 billion, an increase of 9.8 percent from the previous month, and 27.7 percent above March 2020.
emphasis added

Click on graph for larger image.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

Retail sales ex-gasoline were up 9.7% in March.

The stimulus checks boosted retail sales significantly in March.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Retail and Food service sales, ex-gasoline, increased by 27.4% on a YoY basis.

Sales in March were slightly above expectations, and sales in January and February were revised up.