Does good weather boost consumer spending?
In the warmest March on record, retail sales beat expectations. But shouldn't the boost have been bigger?
In the warmest March on record, retail sales beat expectations. But shouldn't the boost have been bigger?
By Joshua M. Brown, Guest blogger
The headlines will all say that Retail Sales numbers for March beat expectations this morning - and technically they did - but in reality, this was the best weather we've聽ever聽seen in March across the country and we couldn't even muster a 1% rise.聽 The data from the Commerce Department just screams聽lethargic consumer.
That said, the chain-store numbers were a bit brighter as it appears apparel consumers went spring shopping a bit early this year...
From Bloomberg:
How much of April and May retail sales - if any - was pulled forward?