US retail sales rose by more than forecast in March and the prior month was revised higher, showcasing resilient consumer demand that keeps fueling a surprisingly strong economy.
U.S. retail sales increased more than expected in March amid a surge in receipts at online retailers, further evidence that the economy ended the first quarter on solid ground. Retail sales rose 0.7% last month,
For the latest sign of U.S. economic resiliency, look no further than Monday's retail sales report. Driving the news: Retail sales rose 0.7% in March, while the previous months' figures were even better than originally thought,
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.
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% in March, while the previous months' figures were even better than originally thought, the government said. In February, for instance, retail sales rose 0.9% — 0.3 percentage points more than first estimated.
A strong jobs market and rising wages have fueled household spending, which also has become choppy in the face of rising credit costs and higher prices.