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%.
Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers
US Treasury Secretary Yellen visits China for high
HKFP Lens: Hong Kong photographers document their last moments in the city
VOX POPULI: Some celebrate while others ponder time and space on leap day
Sweden beats France, Britain relegated after losing to Norway at hockey worlds
Artificial intelligence found to be 'superior to biological intelligence'
VOX POPULI: ‘Dandara’ puns still entertain amid destroyed shops of Wajima
Second dog infected with rare parasite babesia gibsoni
California congressman urges closer consultation with tribes on offshore wind
VOX POPULI: The war in Ukraine enters its 3rd year with no end in sight
Why US Catholics are planning pilgrimages in communities across the nation
Luke Littler's Premier League darts rival Michael van Gerwen, 34, says the 17