U.S. retail sales increased for the ninth month in a row,
the U.S. Commerce Department announced April 13.
Sales rose 0.4 percent, seasonally adjusted over February,
the Department said, and 7.3 percent unadjusted year-over-year.
Meanwhile, the National Retail Federation estimated retail
industry sales for March increased 0.6 percent seasonally adjusted from
February, and 3.9 percent unadjusted year-over-year. The group’s numbers
exclude automobiles, gas stations, and restaurants.
“Improving financial situations including the temporary
payroll tax cut, wage gains and a strengthening labor market likely supported
March spending gains,” said NRF chief economist Jack Kleinhenz in a statement.
“If gasoline prices can stabilize over the next few months, consumer spending
may continue to grow.”??
To receive the latest jewelry news and blogs every day in your
inbox, subscribe to JCK’s e-newsletter here.