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