WASHINGTON (AP) – Americans increased their spending on autos, furniture, clothing and building materials in March, lifting retail sales for the first time in four months.
Retail sales jumped 0.9 percent last month, after declining 0.5 percent in February, the Commerce Department said Tuesday. The rebound suggests that shoppers are returning after an unseasonably cold winter froze sales.
Warmer weather fueled a 2.7 percent increase in auto sales and a 2.1 percent boost in building materials, possible signs that the lagging manufacturing and construction sectors might also recover from a winter slump.
Excluding the volatile categories of autos, gas, building materials and restaurants, sales rose 0.3 percent.
Economists say that sales should continue to climb because of the yearlong hiring surge and lower gasoline prices.