Economics
Retail Sales in U.S. Show Impact of Surging Gasoline Prices
- Value of sales rose 0.5% in March after revised 0.8% gain
- Purchases fell in largest spending categories - autos, online
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U.S. retail sales picked up in March, helped by a surge in gas station receipts that masked mixed results in other large spending categories as consumers contend with decades-high inflation.
The value of overall retail purchases climbed 0.5%, Commerce Department figures showed Thursday. While that was just shy of expectations, the prior month was revised up sharply to show a 0.8% increase.