‘Resiliency’ in Consumer Spending Evident in March Retail Sales Rise, Says NRF
March sales at electronics and appliance stores were up 1.6 percent year-over-year and up 0.5 percent “seasonally adjusted” from February, said the National Retail Federation Monday. Overall March retail sales increased 0.3 percent seasonally adjusted over February and 5 percent…
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year-over-year, excluding automobiles, gas stations and restaurants, said NRF. Online and other non-store sales were up 7.6 percent year-over-year overall and up 0.8 percent over February seasonally adjusted, it said. “Consumers continue to show resiliency in spending, and these numbers reflect how the economy is performing with a strong job market, gains in wages, improvements in confidence, rising home value and judicious use of credit,” said NRF. “The biggest risk to spending is in market fluctuations that could affect confidence, but we expect these basic improvements in economic fundamentals to continue."