Consumer Behavior

Retail sales grew in March

Photo: Adobe Stock

April 18, 2024

Retail sales continued to increase in March, according to U.S. Census Bureau data, driven by tax refunds and job growth.

Overall retail sales in March were up 0.7% seasonally adjusted from January and up 4% unadjusted year over year. That compared with increases of 0.9% month over month and 2.1% year over year in February.

The refunds and job expansion put more money into consumer pockets, according to the National Retail Federation.