US retail sales defy inflation with surprising March increase
22 Apr '24
46 min read
Clothing witnessed lower sales even though overall retail sales grows
Insights
Despite high inflation and the Fed maintaining elevated interest rates, US retail sales increased unexpectedly in March, rising by *.*% MoM.
This increase can be attributed to higher wage growth, rising employment, and increased spending by low-income groups.
However, clothing sales declined due to inflation impacting this sector specifically.
Despite high inflation and the Fed maintaining elevated interest rates, US retail sales increased unexpectedly in March, rising by *.* per cent MoM.
This increase can be attributed to higher wage growth, rising employment, and increased spending by low-income groups.
However, clothing sales declined due to inflation impacting this sector specifically.
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