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Retail Spending Advanced in March as Inflation Surged, Economists Estimate
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American shoppers kept opening their wallets in March as rapidly rising prices for gasoline, food and goods took up more of their spending, economists say.
Consumers are estimated to have increased their retail and restaurant spending by 0.6% in March compared with the previous month, according to economists surveyed by The Wall Street Journal. That would be a slight bump up from the modest monthly increase of 0.3% in February, according to the Commerce Department. The department will release its March retail-sales figures on Thursday at 8:30 a.m. ET.
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