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Retail sales surged 1.4% in March, the largest increase in over two years, driven primarily by a more than 5% jump in auto sales. Consumers rushed to purchase vehicles before new tariffs took effect, boosting spending at dealerships. While economists predict a slowdown in auto sales in the coming months due to tariff-induced price increases, overall consumer spending remains strong, fueled by a robust job market and rising incomes. However, concerns remain about the long-term impact of tariffs on consumer sentiment and spending.

Prepared by Christopher Adams and reviewed by editorial team.