3 Takeaways from the Blockbuster Retail Sales Report
If there was any doubt that the economic recovery was real, the March retail sales report put that to rest.
According to the Census Bureau, retail sales jumped 9.8% last month, its fastest pace since the snap-back that followed the lockdowns last spring, and much better than estimates at 5.5%. Adjusted retail and food services sales reached $619.1 million, a record for a single month, fueled by stimulus checks and accelerating vaccination rates. More than a year after the pandemic hit, it's clear that Americans are eager to spend again and return to their pre-pandemic habits.
In addition to offering a valuable window into the performance of the American economy, the retail sales report also sheds light on how the many subsectors of the retail industry are performing. Let's take a look at some of the winners and losers emerging during the early stages of the recovery.
Source Fool.com
