US retail sales rose 1.7% March 2026 on gas, cars
US retail sales grew by 1.7% in March 2026, beating expectations.
The main reasons? Gas prices shot up thanks to global tensions with Iran, and car sales got a boost from special deals.
Even February's numbers were better than first reported.
US gas prices jumped 24%
Gas prices in the US jumped 24%, pushing up overall sales but also making life pricier for everyone.
Economists warn that higher fuel costs could force people to cut back elsewhere, with annual gasoline expenses possibly rising by $857 this year.
Meanwhile, tax refunds were a bit higher on average but still fell short of hopes, and consumer confidence hit a record low as inflation fears linger.
Core retail sales rose 0.7%
Core retail sales (which leave out automobiles, gasoline, building materials, and food services) rose just 0.7%.
The Atlanta Fed has trimmed its GDP growth outlook for the first quarter of 2026 to an annualized rate of 1.3%, signaling that even with more spending now, economic uncertainty isn't going away anytime soon.