Retail sales up a strong 0.7% in March from February, underscoring the resiliency of the US consumer

Americans increased their spending pace in March at a better-than-expected pace from the previous month, underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges. Retail sales rose 0.7% last month after being up a revised 0.9% in February, according to the Commerce Department’s report on Monday. Sales fell a revised 1.1% in January, dragged down in part by inclement weather. Excluding gas prices, which have been rising, retail sales were still up a solid at 0.6%. The snapshot offers only a partial look at consumer spendirng and doesn’t include many services, including travel and hotel lodges. But the lone services category - restaurants - registered an uptick of 0.4%.