California Business Minute™

The California Redevelopment Association, CRA provides legislative
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Hi, I am Tim Johnson and welcome to the California Business Minute.

The US Dept of Commerce, Census Bureau, released its advance estimates for monthly
retail sales figures.  The numbers show a decline of 1.1 percent in March that
probably will not be adjusted to positive territory after the initial advance
estimates illustrative in January and February.

The 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 $344.4 billion, a decrease of 1.1 percent (±0.5%)* from the previous
month and 9.4 percent (±0.7%) below March 2008.

The numbers were weaker than expected by economists and analysts had forecasted. 
Sales fell for almost every type of category except for the food and drugs.  Sales
of autos and auto parts fell 2.3 percent, a surprise given the 8 percent increase
reported by the automakers.  However, these numbers exclude fleet sales, which
might have boosted results.  Additionally, sales of electronics and appliances
fell along with furniture, building materials and general merchandise.

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