This Week's State Of The Economy - What Is Ahead? - 16 April 2021

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Apr 17, 2021

This Week's State Of The Economy - What Is Ahead? - 16 April 2021

U.S. Review - More Evidence of Economic Recovery

Data released this week continue to show that the economic recovery has gained momentum in March. The much anticipated consumer boom has arrived. An influx of cash from the latest round of stimulus and warmer weather after harsh arctic temperatures across the country in February led to a blockbuster month for retailers in March. Total retail sales surged 9.8% during the month, a gain exceeded only by the surge tied to the reopening of the economy in May of last year after the lockdowns. The gain pushed the total level of sales a stunning 17% higher than it was before the pandemic. Without exception, every store type posted better sales in March, and the level of sales reported at every type of retailer except food services (restaurants) is now between 2% and a staggering 44% ahead of where they were prior to the pandemic.




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it looks like higher mortgage rates are starting to have some effect on the housing market as April...

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