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%. |
Beijing International Film Festival opens for cultural dialoguesBritney Spears reaches divorce settlement with estranged husband Sam AsghariImperial Chinese wine jar stolen from Belgian museumImperial Chinese wine jar stolen from Belgian museumToday's campus protests aren't nearly as big or violent as those last centuryKentucky governor predicts trip to Germany and Switzerland will reap more business investmentsNebraska forward Rienk Mast will have knee surgery and miss the 2024Three signs Princess Charlotte's birthday portrait, taken by Kate Middleton, was not retouchedCountry makes solar affordable worldwideAlvarez and Munguia unusually polite to each other leading up to all