US retail sales slump 8.7% in March, deepest drop on record
NEW YORK, NY - MARCH 18: A sign in the window announces the closing of the store at Bergdorf Goodman Department store as it sits closed in the wake of the Coronavirus, COVID19, outbreak on March 18, 2020 in New York City. Businesses continued to close days after bars and restaurants shuttered as authorities in New York weighed a "shelter-in-place" order for the entire city. (Photo by Victor J. Blue/Getty Images)
(CNN) — Not surprisingly, Americans aren’t buying much beyond food and drink right now.
US retail sales slumped 8.7% in March, their worst monthly decline since the Census Bureau began collecting the data in 1992.
Excluding autos and gas, retail sales fell by 3.1%.
While retail trade fell overall, one category stood out: grocery store sales surged 27% in March.
But sales at clothing and accessories stores, meanwhile, dropped 50.5%.
— This is a breaking news story and will be updated.