Retail sales up 1.7% in March from February driven by a spike in gas prices due to the Iran war

U.S. retail sales increased by 1.7% in March compared to February, marking the fastest monthly gain in over three years. The Commerce Department reported the surge was primarily driven by a significant spike in gas prices due to the ongoing Iran war. Excluding gas, retail sales rose 0.6%, boosted by tax refunds and warmer weather. While gas station sales jumped 15.5%, other sectors also saw gains, including department stores, furniture stores, and online retailers. The report offers a partial view of consumer spending, excluding services like travel, but indicates broad spending across various sectors.