Retail Sales Rise in March
U.S. retail sales showed a healthy 0.8 percent increase in the month of March, the Commerce Department reported Monday, in a positive bit of economic news following a weak jobs report earlier this month.
The electronics category was among those that gained, the government said. The overall increase also represented a 6.6 percent jump over last March.
The National Retail Federation reacted positively to the news.
“Moderate retail sales growth in March will help to offset murkier recent economic employment data,” NRF Chief Economist Jack Kleinhenz said in a statement. “We expect to see gains through the all-important summer months, but job and weak income growth coupled with stubbornly high gas costs will continue to force consumers to make tough, price-sensitive choices.”