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 per cent last month, the largest increase since November. Auto sales jumped 2 per cent, 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.
Analysts were a bit disappointed by the March figures. Many had expected a stronger bounce-back. Excluding autos, sales were up just 0.2 per cent.