Consumer spending was stronger than expected in March, because demand remained high despite the drop in feeling, the trade department reported on Wednesday.
The advanced estimate of retail sales showed an increase of 1.4% over the month, better than the estimate of 1.2% of Dow Jones and greater than the increase of 0.2% in February. The increase from one year to another was 4.6%, according to figures adjusted for seasonality but not prices, while the monthly increase has been the largest since January 2023.
Excluding cars, the figures were also stronger than expected, with sales up 0.5% compared to forecasts of 0.3%. Economists expected the automotive sales number while buyers were trying to get ahead of the president Donald Trumpis aggressive prices.
Concessionaires for motor vehicles and parts declared an increase of 5.3% sales.
Reading indicates that expenses are held strong despite the cross currents of imminent prices and the expectations of the economy weaken.
“Net, net, these are simply figures for retail sales in March where haste is as if it is a gigantic customs clearance,” said Chris Rupkey, chief economist at Fwdbond. “Consumers expect high prices next year and clean the store shelves and acquire good deals while they can.”
The markets did not react little to the release, with term contracts on slightly and longer actions, the yields of the Treasury.
The retail report will thwart several recent feeling readings which show a great fear that Trump's prices will reduce the economy in the recession and the prices of the recession. Last week, the survey of consumer feelings of the University of Michigan, supervised, posted its second most based on all time and expectations for one -year inflation have been the highest since 1981.
Aside from the big movement in sales, sport articles, hobby and music stores and music stores experienced 2.4%, while construction stores and gardens increased by 3.3%. Food services and alcohol consumption areas increased by 1.8%, while petrol stations declared a drop of 2.5% as prices dropped during the month.
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