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us retail sales rebounded a solid 0.6 pct. in march

us retail sales rebounded a solid 0.6 pct. in march News Article With The full text news. The Resource Link is down the post and you can View this News Article in the source page.



us retail sales rebounded a solid 0.6 pct. in march

washington — u.s. consumers bounced back in march and bought more cars, furniture and appliances after three months of declining retail sales.the commerce department said retail sales rose 0.6 percent last month, the largest increase since november. auto sales jumped 2 percent, the most in six months.sales at retailers slipped in the first two months of this year as consumers pulled back after heavy spending during the winter holidays. last month's figures suggest americans are returning to more free-spending ways. easter holiday purchases also likely lifted spending. economists predict that healthy consumer confidence, steady job gains and the impact of tax cuts will fuel solid spending growth in the months ahead.sales rose at grocery stores, restaurants and bars, and drug stores. they fell at home and garden stores, clothing shops and sporting goods stores.online retail sales increased 0.8 percent in march and have risen nearly 10 percent compared with a year ago. that's more than double the overall retail sales gain in the past 12 months of 4.5 percent.retail sales are closely watched by economists because they provide an early read on consumer spending, the principal driver of the u.s. economy. store purchases account for about one-third of u.s. consumer spending, while spending on services such as haircuts and mobile phones plans makes up the other two-thirds.sales rose just 0.2 percent in the first three months of the year, suggesting consumer spending overall likel...