The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on April 15, 2021, 12:56:49 pm
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Retail sales surge 9.8 percent in March, spurred by stimulus
By Niv Elis - 04/15/21 08:51 AM EDT
Retail sales in March surged 9.8 percent as $1,400 stimulus checks were issued, the weather improved, and vaccination rates increased.
The figure was well above the 6.1 percent economists expected, and was a return to form after major storms in February led to a 3 percent drop. That figure was revised upward to 2.7 percent.
The $619.1 billion in sales was a whopping 27.7 percent higher than last March, when the pandemic hit in earnest and lockdowns took hold across the country.
Paired with a stronger-than-expected showing in weekly jobless claims, which fell significantly to 576,000, stock market futures jumped, with a 150-point increase, or 0.5 percent, expected for the Dow Jones Industrial Average.
Thursday's data are the latest signs of an economy waking up from an extended slumber, reflecting eased COVID-19 restrictions and a vaccination campaign that has already seen over a third of the population receive at least one dose of a COVID-19 vaccine.
It is also a boost for President Biden, who pushed aggressively to pass a $1.9 trillion COVID-19 relief bill last month to stimulate the economy and get people back to work.
https://thehill.com/policy/finance/548375-retail-sales-surge-98-percent-in-march-spurred-by-stimulus
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Mostly in gun shops?
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Mostly in gun shops?
I should have bought another gun but I got a new washer/dryer combo.. :shrug:
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If I can just get my hands on a few hundred rounds of 9mm ammo, I'll be happy. At the rate things are going, that may eat up the $1,400! :laugh:
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Gubmt economy being propped up by Pedo-Joe gimme checks.
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Gubmt economy being propped up by Pedo-Joe gimme checks.
Watch it fall like a rock by the end of may.