Coronavirus delivers record blow to U.S. retail sales in March [MSN Money]
Wells Fargo & Company (WFC)
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Source: MSN Money
WASHINGTON, April 5 (Reuters) - U.S. retail sal suffered a record drop in March as mandatory busins closur to control the spread of the novel coronavirus outbreak deprsed demand for a range of goods, setting up consumer spding for its worst decline in decad.Load ErrorThe Commerce Departmt on Wednday said retail sal plunged 8.7% in March, the biggt decline since the governmt started tracking the seri in 99, after falling by a revised 0.% in February.According to a Reuters survey of economists, retail sal were forecast to have fall 8.0% last month.The report came as millions of Americans are thrown out of work, and strgth economists' conviction that the economy is in deep recsion. Stat and local governmts have issued "stay-at-home" or "shelter-in-place" orders affecting more than 90% of Americans to curb the spread of COVID-9, the rpiratory illns caused by the virus, and abruptly stopping the country."The economy is almost in free fall," said Sung Won Sohn, a busins economics profsor at
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