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.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.  

Need some Econ 101?

Our new Marketplace Crash Course is here to help. Sign-up for free, learn at your own pace.