Research Brief: Retail Sales – April 2021

March retail sales signal dramatic economic turnaround. Consumer spending surged in March as the national economy continued to regain its footing and government stimulus reached more of the population. Core retail sales jumped 8.2 percent from February to March as stimulus checks hit residents’ bank accounts, with every major retail category advancing. Year over year, retail sales jumped 17.9 percent, though many retailers were forced to close during March 2020 as fears of COVID-19 spread across the nation. All but one major category is up annually. More people have begun eating in restaurants and panic purchases declined, reducing sales at grocery stores.

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