Hardware Retailing The Industry's Source for Insights and Information
The U.S. Department of Commerce says retail sales in March grew at the fastest pace since late 2017, according to an article from CNBC.
In total, retail sales increased at a seasonally adjusted rate of 1.6 percent, the strongest monthly increase since September 2017. Overall, retail spending was up 3.6 percent compared to 2018 levels, according to the article.
The sales increase comes after “a lackluster period of sales dating back to December,” the article states. Spending on gasoline, automobiles, furniture and clothing in particular performed well, according to CNBC.
In February, the U.S. Department of Labor announced the economy had added jobs for the 100th consecutive month.
