In February retail sales bump, wealth effect trumps payroll tax
In February retail sales bump, wealth effect trumps payroll tax
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.
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