Americans' spending boosts retail sales
Source: Agencies |
April 17, 2012, Tuesday
|
Print Edition
Print Edition
US retail sales rose at a solid pace last month, as a healthier job market and warmer weather encouraged more consumers to shop.
The US Commerce Department yesterday said retail sales rose 0.8 percent in March. That's below February's 1 percent hike but above January's pace.
Some of the increase went to higher gas prices. Still, steeper gas prices haven't deterred Americans from spending more on other goods.
Americans spent more on building materials, electronics, furniture and clothing.
Excluding car and gasoline sales, retail sales gained 0.7 percent. And excluding autos, gas and home supplies, so-called "core" sales rose 0.5 percent in March, matching February's gain.
Joshua Shapiro, an economist at MFR Inc, said retail sales have "picked up considerably" in the first quarter after a weak December gain.
The US Commerce Department yesterday said retail sales rose 0.8 percent in March. That's below February's 1 percent hike but above January's pace.
Some of the increase went to higher gas prices. Still, steeper gas prices haven't deterred Americans from spending more on other goods.
Americans spent more on building materials, electronics, furniture and clothing.
Excluding car and gasoline sales, retail sales gained 0.7 percent. And excluding autos, gas and home supplies, so-called "core" sales rose 0.5 percent in March, matching February's gain.
Joshua Shapiro, an economist at MFR Inc, said retail sales have "picked up considerably" in the first quarter after a weak December gain.
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