US March Retail Sales Took a
Record Blow Due to Coronavirus According to the Commerce
Department, March retail sales took
an 8.7 percent nosedive. The decline exceeded
economists' predictions of
an 8 percent fall for March. Two thirds of all economic
activity in the U.S. is comprised
of consumer spending. Much of the nation is
under some form of lockdown,
leading to shuttered retail stores. Tim Quinlan, Wells Fargo, via CNBC Some economists are predicting
a second quarter decline of as
much as 41 percent. Sung Won Sohn, Loyola Marymount, via CNBC