March US sales boost signals more optimism

New Zealand exports less in goods than it imports from the US but the opposite is true of services

Spending at USA retailers rose broadly in March, rebounding after a weak start this year for consumer spending despite a solid labor market and growing worker paychecks.

With auto sales rebounding strongly, the Commerce Department released a report on Monday showing retail sales in the US increased by more than anticipated in the month of March. Economists surveyed by The Wall Street Journal expected a 0.3% increase. For the year, vehicle sales were up 4.5 percent.

Of 13 major retail categories itemized, eight showed increases. Excluding both autos and gasoline, sales rose 0.3 per cent. Sales at building material and garden equipment and supplies stores were off 0.6 percent for the month, though they were up 5.3 percent for the year. Sales increased 0.7% from revised up sales of $9.86 billion in February.

Personal consumption and retail spending had disappointed analysts in recent months, feeding expectations the U.S. economy will see slower growth in the first quarter of the year. Refunds from 2017 returns may have also given retail sales a boost in March.

Sega Ages May Include Saturn And Dreamcast Games If It Does Well
Some additional details about some of the games to be featured in SEGA AGES were revealed at SEGA Fes 2018 in a panel after the announcement.

The relatively weak spending has kept estimates for economic growth in check, with analysts forecasting before Monday's report that gross domestic product expanded at a 2.2 percent annualized pace in the January-March period, down from 2.9 percent in the previous quarter.

Even with the bounceback, consumer spending probably expanded at a slower pace in the first quarter.

Consumers snapped up electronics, shopped online and frequented bars and restaurants, but sales sagged at department stores, gas stations and clothing outlets, according to the Commerce Department report.

Clothing and clothing accessory stores were up 6.1% year-over-year but down 0.8% from February seasonally adjusted.

Related News:



Most liked

Primary school placement day - did you get the place you wanted?
I caution anyone voting for an incumbent member this election which would only cause this to continue. I wasn't making much money and I was away from the kids way too much for what I could bring in.

Paying Sales Tax on Out of State Purchases
This law was challenged by the state of South Dakota as it seeks to collect sales taxes from out-of-state internet retailers. Amazon collects sales tax on its own products , but not on other businesses' products that are sold through its website.

James Comey 'Swung' Election for Trump: Kellyanne Conway Contradicts Herself, Trump Team
As director of the FBI, James Comey was in office from January 20, 2017, to May 9, 2017. Second, um, what? Conway said, "This guy swung an election".

Mourinho Blames Man United's Players For West Brom Defeat
Mourinho is quoted as saying by Metro : "I told Paul after the City game I don't expect him to be man of the match every week. The Portuguese manager said that City deserved their title and he had offered them his congratulations after the derby win.

Drivers brace for higher gas prices
AAA says high demand for gas and higher oil prices than past year are driving up prices. The report notes, "regional differences in retail gasoline prices can be significant".

Fatal Stabbing At Binghamton University
All classes at Binghamton University are canceled Monday, April 16 following the incident. The suspect remains at large, according to a statement issued by the university .

Donovan Mitchell says he 'feels fine' after hurting toe
However, the former Louisville standout did suffer an injury during Game 1 that forced him to the sideline, albeit briefly. Jazz coach Quin Snyder said all signs point to Mitchell being ready for Game 2 on Wednesday.

New Teaser Confirms That OnePlus 6 will be Water Resistant
OnePlus CEO Pete Lau posted some new OnePlus 6 camera samples to his Weibo account which is the Chinese equivalent of Twitter. The camera on the OnePlus 6 might carry the same type of sensor, but this will be improved with better image processing.

Poop, bacteria found in knockoff luxury cosmetics, police say
Ishitani said the only way some people find out is when they open the product, which isn't allowed at the businesses in Santee Alley.

200 million eggs recalled as FDA warns of salmonella risk
Further, officials said that eggs emerging from this farm were likely connected to 22 reported cases of salmonella infections . The plant number is P-105, with the Julian date range of 011 through 012 printed on either side of the carton or package.

MA Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)
10,653 shares were sold by Robeco Institutional Asset Management as the company's stock rose 28.13% while stock markets declined. Provise Management Group Llc holds 0.29% of its portfolio in BlackRock Municipal Bond Trust for 132,877 shares.

'Fuller House' Star John Stamos, Wife Caitlin McHugh Welcome Son
Stamos, 54, married actress Caitlin McHugh , 32, in February after popping the question at his beloved Disneyland last October. He captioned the image: "From now on, the best part of me will always be my wife and my son".

Manchester City confirmed as champions as rivals United lose
The Portuguese manager said that City deserved their title and he had offered them his congratulations after the derby win. But at Old Traffrord Stadium at home, Man United failed to muster an equaliser to Jay Rodriguez's 73rd-minute strike.

Samsung Galaxy J2 Pro smartphone can't connect to the internet
Target audience "smartphone" - local students who are trying to avoid a dispersion of attention because of the Internet. Samsung said that the phone is intended for students and senior citizens, as they can only make calls and use apps.

Bank of America discloses record profit
With $37 highest and $24.0 lowest [Target] Bank of America has $33.63 average [Target] or 12.85% above the current ($29.8) price. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.91 and a quick ratio of 0.90. (NYSE:THO) or 88,270 shares.