U.S. Retail Sales Grow 0.8% in March Amid Rising Energy Costs
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Data from the Commerce Department Monday showed U.S. consumers spent more than expected at retail locales in March, a sign pent-up demand is leading to investors needing more than just bonbons and a Lifetime film to start feeling better.
Retail sales rose 0.8 percent for the month, slowing from a 1 percent gain in February and compared with Street views calling for a drab 0.3 percent increase. February's number was revised form an initial reading of a 1.1 percent gain.
Leading growth were clothing and electronics retailers like Apple (Nasdaq: AAPL), Gap, Inc. (NYSE: GPS), Kohl's (NYSE: KSS), and Best Buy (NYSE: BBY).
In addition, auto dealers showed a 0.9 percent gain in sale for the month, besting projections calling for a drop in sales, reports Ward’s Automotive Group.
Data showed gasoline prices rose 1.1 percent in March, making the sales gain that much more impressive as consumers outlook on the economy outpaces near-term energy pricing pressure.
U.S. markets are mixed this morning: while the Dow is up about 52 points, the Nasdaq and S&P 500 are down nearly 25 and 3 points, respect
Retail sales rose 0.8 percent for the month, slowing from a 1 percent gain in February and compared with Street views calling for a drab 0.3 percent increase. February's number was revised form an initial reading of a 1.1 percent gain.
Leading growth were clothing and electronics retailers like Apple (Nasdaq: AAPL), Gap, Inc. (NYSE: GPS), Kohl's (NYSE: KSS), and Best Buy (NYSE: BBY).
In addition, auto dealers showed a 0.9 percent gain in sale for the month, besting projections calling for a drop in sales, reports Ward’s Automotive Group.
Data showed gasoline prices rose 1.1 percent in March, making the sales gain that much more impressive as consumers outlook on the economy outpaces near-term energy pricing pressure.
U.S. markets are mixed this morning: while the Dow is up about 52 points, the Nasdaq and S&P 500 are down nearly 25 and 3 points, respect
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