U.S. Retail Sales Spike 9.8% in March

A fresh round of relief checks and an improved labor market are likely to have contributed to the increased spending.

Video Transcript

- New numbers from the Commerce Department showed a surge in spending last month from Americans with fresh $1,400 stimulus checks in their pockets. Retail sales spiked by nearly 10% in March after dropping by about 3% the previous month. And it was the largest increase since May of last year. Employers also added 916,000 jobs last month, furthering signs of an improving economy as the vaccine rollout continues.