Retail sales climbed 1.4% in March from the prior month, the Commerce Department said Wednesday, up from February’s 0.2% gain and the highest monthly gain since January 2023. The figures are adjusted for seasonal swings but not inflation.
The strong showing in March was largely driven by sales of cars and auto parts. Excluding those purchases, retail sales were up a more modest 0.5%
rump’s erratic trade war has unsettled Americans in recent months, stoking fears of inflation picking up in the year ahead, according to various sentiment surveys. That expectation is now clearly having an effect on people’s purchasing behavior.
Americans’ spending frenzy could stretch into April, but will eventually fade, economists say. These brief buying sprints make it difficult for Wall Street and the Federal Reserve to understand the true strength of consumer spending, which powers about 70% of the US economy.
“In the near term, we could have some really strong consumer spending numbers, but that just makes things a little bit tricky for the Fed,” James Knightley, chief international economist at ING, told CNN. “That means that the Fed just sits and waits to see what happens,” referring to the central bank’s upcoming interest rate decisions.
About the author
Ghana Water urges affected residents to report supply issues directly
The Regional Communications Manager of Ghana Water Limited (GWL) in Accra East, Nana Yaw Barima Barnie, is urging residents experiencing water supply challenges to report directly to the nearest GWL office for swift intervention. Speaking on Channel One TV on Friday, April 18, Mr. Barnie emphasized the need for stronger community collaboration in addressing ongoing water supply concerns, particularly in parts of the Greater Accra Region. His remarks follow recent reports highlighting growing frustrations over inconsistent water flow in several communities. Mr. Barnie reassured the public that GWL remains committed to resolving issues promptly but stressed the importance of official complaints to trigger support. “We encourage our customers—if their water is not flowing—to visit our offices. There is always a nearby office where they can lodge complaints, and once we receive the report, we’ll follow up and assist them in […]
Westec Security marks 30 years with new vision
Westec Security Systems Ghana Limited, a private security company has celebrated its 30th anniversary with a grand event, reflecting on three decades of resilience, growth, and transformative impact. The event which took place at the company’s headquarters annex at Ridge, Accra, was attended by staff, partners, and dignitaries. In the week-long activities to mark the milestone, the company organised a health screening exercise for residents of Asylum Down as part of its corporate social responsibility. Hundreds of community members were screened. Staff of the company also observed cultural heritage days, wearing Made-in-Ghana clothes as part of the celebration. Founded in 1994 by Nana Kwame Sarpong I, Westec was born out of a mission to tackle unemployment while providing top-tier security solutions. CEO Esther Boakye, addressing staff and partners at the event, painted a vivid picture of the founder’s determination and the company’s […]
10 people feared dead, others injured in accident on Tamale-Buipe highway
Ten people are feared dead, and several others injured, following a fatal accident involving a Tamale-Kumasi bound VVIP bus with registration number AP 24-21 at Alipe, a community along the Tamale-Buipe Highway in the Savannah Region. Police at the scene confirmed that the injured were rescued and transported to nearby medical facilities for treatment, while personnel from the Ghana National Fire Service were awaited to tow the bus and assist in retrieving those trapped beneath it. Some survivors who spoke to JoyNews recounted that the bus had departed Tamale around 7:32 am on Thursday, amid heavy rains, en route to Kumasi. Upon reaching Alipe, the driver reportedly attempted to overtake a second vehicle but veered off the road, causing the crash. “We were fifteen missionaries in the bus going to Kumasi. The rains started just as we left Tamale. Our […]
Trump administration looking at closing nearly 30 overseas embassies
The proposed changes come amid a broader expected overhaul of the US’ diplomatic agency as the Trump administration, spurred by the Elon Musk-backed Department of Government Efficiency makes dramatic efforts to shrink the federal government. It is unclear whether Secretary of State Marco Rubio has signed off on the proposed closures. The document recommends closing 10 embassies and 17 consulates. Many of the posts are in Europe and Africa, though they also include ones in Asia and the Caribbean. They include embassies in Malta, Luxembourg, Lesotho, the Republic of Congo, the Central African Republic and South Sudan. The list also includes five consulates in France, two in Germany, two in Bosnia and Herzegovina, one in the United Kingdom, one in South Africa and one in South Korea. State Department Spokesperson Tammy Bruce would not comment on the internal document or […]
Key suspect who allegedly pushed Gabon player to death identified and questioned
The football world is mourning the tragic loss of Gabonese international striker Aaron Boupendza, who died at the age of 28 after falling from the 11th floor of a building in China. Boupendza was playing for Zhejiang FC at the time of his untimely death. Authorities have launched an investigation to determine whether the fall was accidental, suicidal, or the result of foul play. Boupendza had a prolific career, playing for clubs across France, Turkey, Qatar, the United States, Romania, and China. He was the top scorer in the Turkish Super Lig during the 2020/21 season with Hatayspor and had stints with Bordeaux, CF Mounana, and FC Cincinnati in MLS. Internationally, he earned 35 caps for Gabon, scoring eight goals. The Gabonese Football Federation (FEGAFOOT) and President Brice Oligui Nguema have expressed their condolences, highlighting Boupendza's contributions to Gabonese […]
NPP declares post-election report confidential, moves to amend constitution after 2024 defeat
Richard Ahiagbah, the party’s Director of Communications, stated on Wednesday, April 16, that the document, compiled by the 12-member committee chaired by former Speaker of Parliament, Professor Mike Oquaye, is strictly for internal party use. “I don’t think so. It is an internal document that will be used to aid the party’s reform process and help position us for victory in 2028,” Ahiagbah told reporters following a National Executive Committee (NEC) meeting in Accra. He added, “So I can guarantee you, even though it is not expressly stated, it is clearly implied that the document is not meant for public consumption.” Despite the strict confidentiality surrounding the report, Ahiagbah assured party faithful that relevant insights would be shared in a manner that preserves the integrity of the document. “There’s a way, our supporters will go about it that will not […]
Related
Trump administration looking at closing nearly 30 overseas embassies
The proposed changes come amid a broader expected overhaul of the US’ diplomatic agency as the Trump administration, spurred by the Elon Musk-backed Department of Government Efficiency makes dramatic efforts to shrink the federal government. It is unclear whether Secretary of State Marco Rubio has signed off on the proposed closures. The document recommends closing 10 embassies and 17 consulates. Many of the posts are in Europe and Africa, though they also include ones in Asia and the Caribbean. They include embassies in Malta, Luxembourg, Lesotho, the Republic of Congo, the Central African Republic and South Sudan. The list also includes five consulates in France, two in Germany, two in Bosnia and Herzegovina, one in the United Kingdom, one in South Africa and one in South Korea. State Department Spokesperson Tammy Bruce would not comment on the internal document or […]
Trump Says Fed Chair’s ‘Termination Cannot Come Fast Enough’
President Trump lashed out at Jerome H. Powell, the chair of the Federal Reserve, on Thursday, saying “Powell’s termination cannot come fast enough!” Mr. Trump’s ire followed remarks by Mr. Powell on Wednesday, in which he warned in a speech that tariffs could create a “challenging scenario” for the central bank by putting its two main goals — stable inflation and a healthy labor market — in tension. Mr. Powell reiterated that the Fed could afford to be patient with its interest rate decisions until it had more clarity about Mr. Trump’s policies. The Fed chair’s emphasis on the need to ensure that a temporary rise in inflation from tariffs did not become a more persistent problem suggested that the bar for further rate cuts was high. The president has been pushing for Mr. Powell to cut rates. On Thursday, […]
JD Vance Sees ‘Good Chance’ of Trade Deal With Britain
Vice President JD Vance expressed optimism about a future U.S.-U.K. trade deal under a potential Trump administration, citing President Trump’s affinity for Britain as a reassuring signal for a nation recently subjected to his 10% tariff policy. In an interview published Tuesday by the British outlet UnHerd, Vance emphasized Trump’s admiration for King Charles III, calling the U.S.-U.K. bond “a very important relationship.” He also noted ongoing collaboration with Prime Minister Keir Starmer’s government, stating, “There’s a good chance we’ll come to a great agreement that’s in the best interest of both countries.” While details of a potential deal remain vague, negotiations are expected to face hurdles. Past U.S.-U.K. trade talks have stalled over contentious issues like American agricultural imports, including chlorine-washed chicken and hormone-treated beef—products long opposed by British critics. The U.S. has prioritized trade discussions with Japan and other […]
18-Year-Old Nigerian-American Prodigy Earns Admission to 6 Elite US Ivy League Colleges
In a remarkable display of academic excellence, 18-year-old Osariemen Unuigbe, a first-generation Nigerian-American, has earned admission to six of the most prestigious Ivy League institutions in the United States. Her outstanding accomplishments have not only brought pride to her family but also highlighted the growing impact of Nigerian talent on the global academic stage. Born to Dr. Augustine Unuigbe and Dr. (Mrs.) Florence Unuigbe, immigrants from Edo State, Nigeria, Osariemen has consistently demonstrated a commitment to academic rigor and personal growth. Currently finishing her senior year at Egg Harbor Township High School in New Jersey, she has been recognized for her exceptional performance in advanced studies and her dedication to achieving excellence. Osariemen’s impressive list of acceptances includes world-renowned universities such as Harvard, Yale, Cornell, Columbia, the University of Pennsylvania, Duke, Spelman, and Rutgers. This achievement underscores her hard work, […]
HISTORIC SPACE MILESTONE: Blue Origin Launches First All-Female Crew on NS-31 Mission
Van Horn, Texas | October 2023 – In a groundbreaking moment for space exploration, Blue Origin successfully completed its NS-31 mission on Monday, marking the company's first-ever all-female crewed spaceflight. The historic journey featured six trailblazing women who soared past the Kármán line (100 km/62 miles above Earth), experiencing the awe of weightlessness and panoramic Earth views. Meet the Pioneering Crew 🚀 Aisha Bowe – Aerospace engineer & former NASA rocket scientist🚀 Amanda Nguyen – Civil rights activist & Nobel Peace Prize nominee🚀 Gayle King – Award-winning CBS Mornings co-host🚀 Katy Perry – Grammy-winning pop icon (first musician in space)🚀 Kerianne Flynn – Emmy-nominated film producer🚀 Lauren Sánchez – Journalist, philanthropist & Jeff Bezos' fiancée Mission Highlights ⏱ Flight Duration: 10 minutes 13 seconds🚀 Rocket: New Shepard (fully autonomous)🌎 Altitude: 105 km – surpassing the space boundary💫 Weightlessness: 3+ minutes of zero-gravity floating📸 Iconic Moment: Bezos personally opened the capsule to greet tearful crew members Why This Mission Matters 🔹 Gender Equality: First private spaceflight with 100% female crew🔹 Diversity in STEM: Bowe’s participation […]
Trump exempts smartphones and computers from new tariffs
In a notice issued by U.S. Customs and Border Protection, the agency confirmed that several electronic goods—most notably smartphones and semiconductors—will now be excluded from the 10% global tariff imposed by former President Donald Trump, as well as the steep China-specific import duties. This marks the first major relief from Trump-era tariffs on Chinese goods, with some trade analysts calling it a “game-changing scenario.” The move follows increasing pressure from U.S. tech giants warning that production costs—and ultimately consumer prices—could surge due to the tariffs, as much of their manufacturing is based in China. While en route to Miami on Saturday, Trump told reporters he would share more details on the exemptions early next week. The tariff exclusions, retroactively effective from April 5, also cover a range of other electronics and components, such as memory cards, solar cells, and integrated […]
Be the first to leave a comment