California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

Retail sales increased 1.6 percent last month, more than anticipated and the biggest
gain in four months, according to figures from the Commerce Department.

The U.S. Census Bureau announced advance estimates of U.S. retail and food services
sales for March, adjusted for seasonal variation and holiday and trading-day differences,
but not for price changes, were $363.2 billion, an increase of 1.6 percent (±0.5%) from
the previous month and 7.6 percent (±0.5%) above March 2009.

The March report illustrates broad based gains. Eleven of 13 major categories showed
increases in sales last month, led by a 6.7 percent advance at auto dealers. Purchases
of building materials jumped 3.1 percent, the most since November 2007, and receipts
at clothing stores increased by the most in a year.

Dealerships saw a rebound last month after the February storms that pushed seasonal
snowfall totals to records in parts of the eastern U.S. made some auto lots inaccessible.
Industry figures illustrate that chain stores last month turned in their best year-over
-year performance since 1999. In addition, gasoline stations sales were up 26.4 percent
 (±1.5%) from March 2009 and motor vehicle and parts dealers sales were up 14.1 percent
 (±2.5%) from last year.

I am Tim Johnson and this has been the California Business Minute.