Retail sales surged in March at the fastest pace since late 2017, as spending on autos, gasoline, furniture and clothing jumped.
The Commerce Department said this week that sales rose a seasonally adjusted 1.6 percent from February, the strongest increase since September 2017.
The gains mark a sharp rebound from a lackluster period of sales in December. It’s a sign that the healthy job market has likely made consumers more eager to spend in ways that boost overall economic growth.
“For the first time in months, markets were finally presented with an upbeat report on U.S. retail sales,” said Jennifer Lee, a senior economist with BMO Capital Markets. “Americans hit the malls with a vengeance…” The Colombian