Retail sales surged in March as Americans rushed to beat Trump’s tariffs
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 […]
