Bloomberg is reporting today that retail sales were strong in March, with growth almost 3x over projections. Many major categories saw growth, not just seasonally-affected products, which suggests that weather wasn’t as key of a factor as overall economic development, the report suggests. For anyone interested in checking out the RSTAMOM chart (yeah Rasta Mom!), click here.
This is good news for sellers, considering other market indicators are still less than stellar at the moment (see stock market/housing index). Categories reporting a solid month include clothing, electronics, automobiles, furniture, and home improvement. This shows that consumers are becoming more resilient to the difficult times we’re facing. Let’s hope that those receiving tax returns this year will contribute to continued momentum in April.