Retail sales surge 9.8 percent in March, spurred by stimulus
Source: The Hill
BY NIV ELIS - 04/15/21 08:51 AM EDT
Retail sales in March surged 9.8 percent as $1,400 stimulus checks were issued, the weather improved, and vaccination rates increased.
The figure was well above the 6.1 percent economists expected, and was a return to form after major storms in February led to a 3 percent drop. That figure was revised upward to 2.7 percent.
The $619.1 billion in sales was a whopping 27.7 percent higher than last March, when the pandemic hit in earnest and lockdowns took hold across the country.
Paired with a stronger-than-expected showing in weekly jobless claims, which fell significantly to 576,000, stock market futures jumped, with a 150-point increase, or 0.5 percent, expected for the Dow Jones Industrial Average.
Read more: https://thehill.com/policy/finance/548375-retail-sales-surge-98-percent-in-march-spurred-by-stimulus
bucolic_frolic
(43,128 posts)Giving money to banks and rich people and businesses creates capital in a ledger.
Surprise! The Fed is useless! And making income inequality worse!
Surprise!!!
Aussie105
(5,382 posts)You beat me to it!
Hope those who really needed the money spent it wisely. Food, bills, the basics.
Clear the personal debt backlog, stimulate the US economy.
CountAllVotes
(20,868 posts)My husband is having two leg surgeries soon and he has an old sunk-in bed.
The bed I have is no better and waking up in pain really sucks. UGH!
So, two new beds are en route!
I have never spent so much $$$ on anything like the beds I just bought ever.
I deserve it.
We all deserve it!
Thank you President Biden for helping this disabled family.
I am proud to spend my stimulus money by giving back to our local economy!
& recommend !!
twodogsbarking
(9,732 posts)does the government tell us the truth?
kimbutgar
(21,130 posts)Something I havent seen in a long time!