Reflecting the impact of the coronavirus-induced shutdown, the Commerce Department released a report on Wednesday showing a record decline in U.S. retail sales in the month of March.
The Commerce Department said retail sales plummeted by 8.7 percent in March after falling by a revised 0.4 percent in February.
Economists had expected retail sales to plunge by 8.0 percent compared to the 0.5 percent drop originally reported for the previous month.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.