US Retail Sales Beat Expectations , Boost First-Quarter Growth Estimates
U.S. retail sales increased more than expected in March amid a surge in receipts at online retailers, further evidence that the economy ended the first quarter on solid ground.
The report from the Commerce Department on Monday, which followed news this month of robust employment gains in March and a pick-up in consumer inflation, bolstered expectations that the Federal Reserve could delay cutting interest rates until September.
It prompted economists at Morgan Stanley to raise their gross domestic product (GDP) growth estimate for the first quarter to...
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