In February retail sales bump, wealth effect trumps payroll tax
Share Now on:
Retail sales ticked up by 1.1 percent last month according to the Commerce Department. The growth was better than expected, despite higher gas prices and the payroll tax increase that went into effect at the beginning of the year.
Gus Faucher, senior economist with PNC Financial Services Group, joins Marketplace Morning Report host Jeremy Hobson to break down the details behind the numbers.
News and information you need, from a source you trust.
In a world where it’s easier to find disinformation than real information, trustworthy journalism is critical to our democracy and our everyday lives. And you rely on Marketplace to be that objective, credible source, each and every day.
This vital work isn’t possible without you. Marketplace is sustained by our community of Investors—listeners, readers, and donors like you who believe that a free press is essential – and worth supporting.