Chain Store Sales Mostly Higher

Chain stores are reporting mostly higher sales results in March which is no surprise given this year's early Easter which pulled April sales forward. This calendar effect will be adjusted for in the government's month-to-month data but adjustments for big effects are sometimes less than perfect. That said, today's results point to a rise in unadjusted retail sales for March which, after adjustment, may prove to be closer to steady than a big gain or loss.