Retail sales surge 0.7% in March as Americans seem unfazed by higher prices with jobs plentiful
NEW YORK (AP) — Americans boosted spending at a hotter-than-expected pace in March, underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges.
Retail sales rose 0.7% last month — almost double what economists had forecast — after rising 0.9% in February, according to Commerce Department data released Monday. The February figure was revised upward. That comes after sales fell 1.1% in January, dragged down in part by inclement weather. Excluding gas prices, which have been on the rise, retail sales still rose a solid at 0.6%.
The national average gas price Monday was $3.63 per gallon, per AAA, up 6 cents from a week ago, and up 19 cents from last month, but they’re still 3 cents below where they were at this point last year.
The snapshot offers only a partial look at consumer spending and doesn’t include many services, including travel and hotel lodges. But the lone services category - restaurants - registered an uptick of 0.4%.
Related articles
Siblings trying to make US water polo teams for Paris Olympics
WALNUT, Calif. (AP) — Chase Dodd started swimming when he was just a kid. Once he began playing wate2024-05-21Brick Lane: Chinese political slogans appear on famous London street
Your web browser is no longer supported. To improve your experience update it here2024-05-21Princess of Wales: Data watchdog 'assessing' Kate privacy breach claims
By Sean Seddon, BBC NewsThe Princess of Wales, pictured in November 2023. Photo: AFP / FRANK AUGSTEI2024-05-21Education Ministry workers on tenterhooks awaiting job cuts news
Education Ministry workers say they have been kept nervously waiting while leaders delay revealing t2024-05-21Jon Wysocki dead at 53: Staind drummer passes away
The music world is in mourning this Sunday, with word that original Staind drummer Jon Wysocki passi2024-05-21It's about to get more difficult for Americans to visit Brazil
Brazil is postponing its visa requirement for United States citizens - ones that require people to s2024-05-21
atest comment