Retail sales pop as consumers rush to buy goods ahead of tariffs

According to U.S. Census Bureau data, retail sales jumped significantly in March, with nominal and inflation-adjusted sales posting their strongest year-over-year gains since 2022. The surge in retail sales, occurring across a broad group of retail categories, contrasts sharply with a weakening broader economic backdrop, including falling consumer confidence, a weakening labor market, and a significant sell-off in equity markets.