Surprise - Retail Sales Rise, Rebound Points to a Healthy Consumer Says Commerce Department
Retail Sales Rise, Rebound Points to a Healthy Consumer
Date Published: 2019-04-17
Retail Sales Rise, Rebound Points to a Healthy Consumer
The health of the economy is at the forefront of market watchers and nothing is more important to the U.S. growth engine as the consumer and personal consumption expenditures (PCE).
The Commerce Department delivered surprisingly good news as retail sales bounced back in a big way in March, rising 1.6%. Excluding automobiles, retail sales rose a bit slower at 1.2%.
The 1.6% increase from February was the strongest increase since September 2017, according to the Commerce Department. Sales at gas stations rose 3.5% in March and sales at auto dealers rose 3.1%.
After a surprisingly soft retail sales trend in the recent months leading up to March and constant consternation at the federal reserve about the direction of the U.S. economy, the latest data could calm concerns that consumer spending is pulling back.