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Americans kept on spending in March amid a sharp rise in gasoline prices, new government data suggest.
Retail sales, an estimate of how much money people spend on goods and services at the retail level, rose 1.7 percent in March from the previous month, the U.S. Census Bureau reported on April 21. Compared with a year earlier, retail sales were up 4 percent.
That marked a significant surge from the Bureau’s upwardly revised 0.7 percent monthly gain recorded in February.
Much of the increase was driven by spending on gasoline, which jumped 15.5 percent month over month in March. Excluding gasoline stations, retail sales rose just 0.6 percent in March from the previous month….
Retail sales, an estimate of how much money people spend on goods and services at the retail level, rose 1.7 percent in March from the previous month, the U.S. Census Bureau reported on April 21. Compared with a year earlier, retail sales were up 4 percent.
That marked a significant surge from the Bureau’s upwardly revised 0.7 percent monthly gain recorded in February.
Much of the increase was driven by spending on gasoline, which jumped 15.5 percent month over month in March. Excluding gasoline stations, retail sales rose just 0.6 percent in March from the previous month….
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