In February retail sales bump, wealth effect trumps payroll tax

Jeremy Hobson Mar 13, 2013
HTML EMBED:
COPY

In February retail sales bump, wealth effect trumps payroll tax

Jeremy Hobson Mar 13, 2013
HTML EMBED:
COPY

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.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.