U.S. retail sales rose for the ninth straight month in March climbing another 0.4 percent in addition to the 1.1 percent gain in February. The sales increases are attributed to a growing consumer confidence driven by the improving employment outlook.
“The consumer was more resilient in March than some of our concerns,†said John Herrmann, a senior fixed-income strategist at State Street Global Markets LLC in Boston. “Improving labor- market conditions are helping support consumption. This is a very impressive pace of spending, with gains across a diverse range of products.â€
Source: Bloomberg
