U.S. retail sales rose by a seasonally adjusted 1.7% in March. This represents the largest increase since March 2025. The growth significantly exceeded the 1.4% forecast by Reuters economists.
Gasoline station sales jumped a record 15.5% as the Iran conflict drove fuel prices higher. Non-store retail sales climbed 1.0%. Furniture stores recorded a 2.2% rebound in sales.
Tax refunds provided additional support for broad consumer resilience. Morgan Stanley and Goldman Sachs upgraded their first-quarter GDP growth estimates following the report. The data suggests underlying consumer strength despite inflationary pressures and geopolitical uncertainty.