News
Retail Sales See Biggest Boost in a Year
Retailers last month enjoyed the first sales uptick since late 2014, with US sales surging 0.9%. That was the biggest jump in 12 months and allayed fears that the tepid first quarter would continue. Today's Commerce Department report also revised February's figures to a 0.5% rather than 0.6% decline. The news made a strong argument that harsh winter weather had deflated the retail sector in the first quarter; a survey last month showed consumer confidence at a four-month low. It also increased the odds of an interest rate hike later this year.
