Posted 4/15/2024, 1:30:00 PM
Retail Sales Beat Expectations in March Despite Inflation, Showing Economy's Resilience
- Retail sales rose 0.7% in March, nearly double what economists predicted, even with inflationary pressures
- Sales increased across most categories except department stores and some big ticket items
- Strong job market and rising wages driving consumer spending, though it's uneven due to high prices
- Report indicates economy's resilience, with ability to grow despite Fed interest rate hikes
- Consumers being selective but still spending on essentials and value items, postponing major purchases
