US Retail Sales Surge 1.7% in March

US retail sales rose 1.7% in March 2026, beating Reuters forecast of 1.4% and prior estimates.
Higher gasoline prices (+24.1%) and tax refunds (+$351 avg) drove consumer spending, with auto sales also contributing.
Global oil prices rose >30% due to US‑Israeli‑Iran conflict, adding $857 to average annual US gasoline cost per Stanford estimate.
Census Bureau cleared data backlog after last year’s shutdown; April retail sales report scheduled for next month.