American consumers regaining confidence, impacting retail sales
As the U.S. economy continues on its path to recovery, one reassuring sign of steady improvement has been consumer confidence levels and their impact on the nation's retail sales. While there have been fluctuations in recent months, for the most part, conditions are looking up as American shoppers are heading back to merchants' stores and websites to purchase products.
According to the latest MarketPulse survey from Information Resources, Inc., consumer sentiment rose during the first quarter of this year following a decline in 2012's fourth quarter. At the end of last year, consumer sentiment was at 94, the lowest level since 2011. However, the first three months of 2013 saw a sharp jump, with sentiment coming in at 103, showing that American consumers are becoming increasingly confident in their financial conditions and the economy.
This sentiment boost was perhaps one factor that led to a growth in retail sales during April. USA Today reports that data from the Commerce Department revealed that sales rose 0.1 percent last month, beating expectations of a 0.3 percent decrease. This is welcome news for retailers, as they begin to stock their shelves with summer merchandise in anticipation of a busy shopping season.
