Pent-up Consumer Demand Is Unleashed - Retail Sales Register Highest Yearly Increase in Four Years
Robust car sales drove much of the better-than-expected increase in retail sales. Yet excluding the automotive sector, other retailers were strong as well. Clothing stores, for instance, saw sales jump by 2.3%. The report Wednesday was another suggestion that a pent-up demand from the recession is being unleashed within the recovering U.S. economy."
MP: On a year-to-year basis, retail sales increased 7.6% in March, the highest annual gain since January 2006, more than four years ago.