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FEATURE – On this April 10, 2019, drop a picture of Story visitors browsing the store now located at Macy's in New York. On Thursday, April 18, the Commerce Department will release retail data to the United States for March. (AP Photo / Mark Lennihan, File)
WASHINGTON – Retail sales in the United States increased in March at the fastest pace since the end of 2017 as spending on motor vehicles, gasoline, furniture and clothing surged.
The Commerce Department said Thursday that sales rose 1.6%, seasonally adjusted, compared with February, the largest increase since September 2017.
The gains mark a sharp rebound after a period of dull sales going back to December. This is a sign that the healthy job market has probably made consumers more eager to spend in ways that boost overall economic growth.
Sales at gasoline stations rose 3.5% in March, while spending at auto dealerships jumped 3.1%. Clothing manufacturers increased 2% and furniture stores increased 1.7%.
Of 13 retail categories, only one – sporting goods, hobby, musical instrument and bookstore stores – saw a decline in sales.
Spending in department stores did not change in March. Purchases in the sector including online businesses increased 1.2%. Restaurants saw their sales increase by 0.8%.
Excluding automobiles and gasoline, retail sales increased another 0.9%. The surge suggests that consumers are confident enough in their finances to maintain spending, overcoming fears after the 1.6% drop in retail sales in December, their partial recovery in January and their further decline in February.
Over the past year, retail spending has increased 3.6%.
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