Tariff Jitters Spur Fastest Retail Sales Growth in Two Years (1)

Economic data just confirmed what anecdotal evidence had suggested: Consumers are rushing to make major purchases of cars, electronics and appliances in an attempt to get ahead of tariffs that could raise prices.

US retail sales surged 1.4% in March from the previous month, the biggest jump in more than two years. Auto purchases led the advance with a 5.3% increase as buyers sought to dodge President Donald Trump’s 25% tariffs on finished vehicles, which he unveiled late in the month. Categories like building materials, sporting goods and electronics that are often imported from China also rose.

The report ...