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Retail Sales Plunge Unprecedented 8.7% Amid Shutdown

Apr 17, 2020

U.S. retail sales plummeted 8.7% in March, an unprecedented decline, as the viral outbreak forced an almost complete lockdown of commerce nationwide.


The deterioration of sales far outpaced the previous record decline of 3.9% that took place during the depths of the Great Recession in November 2008.


Auto sales dropped 25.6%, while clothing store sales collapsed, sliding 50.5%, the Commerce Department said Wednesday. Restaurants and bars reported a nearly 27% fall in revenue.


“This is crushing our economy, and that’s not being dramatic,” said Cailey Locklair, president of the Maryland Retailers Association.


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