U.S. retail sales increased by the most in 1-1/2 years in March as households bo...
WASHINGTON, - U.S. retail sales increased by the most in 1-1/2 years in March as households boosted purchases of motor vehicles and a range of other goods, the latest indication that economic growth picked up in the first quarter after a false start.
Economists polled by Reuters had forecast retail sales would accelerate 0.9 percent in March. Retail sales in March advanced 3.6 percent from a year ago. They were previously reported to have decreased 0.2 percent in February. Consumer spending accounts for more than two-thirds of economic activity, and strong core retail sales in March could result in the further upgrading of first-quarter GDP estimates.
A report from the Federal Reserve on Wednesday described the economic activity as expanding “at a slight-to-moderate pace in March and early April. The Fed’s “Beige Book” report of anecdotal information on business activity collected from contacts nationwide showed a “few” of the U.S. central bank’s districts reported “some strengthening.”
France Dernières Nouvelles, France Actualités
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