Economics
Some Economists Project ‘Spectacular’ U.S. March Retail Report
- Reopenings and more vaccines also fuel spending surge
- Retailers including Costco reporting a pickup in purchases
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U.S. retail sales probably swelled in March thanks to faster hiring, the distribution of federal stimulus checks, a steady pace of Covid-19 vaccinations and fewer restrictions on stores across the country.
Thursday’s report from the Commerce Department will show retail receipts surged by 5.8% in March after a 3% decline in February, according to the median estimate in a Bloomberg survey of economists. Several forecasters project at least a 10% gain, which would be the largest since May -- when the economy began emerging from initial pandemic lockdowns.