Resilient Retail Sales Up a Strong 0.7% in March from February – RVBusiness – Breaking RV Industry News
NEW YORK — Americans boosted spending at a hotter-than-expected pace in March, underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges, according to an Associated Press report.
Retail sales rose 0.7% last month after rising 0.9% in February, according to Commerce Department data released Monday. 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 but remain below prices at this time last year, 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.
