March retail sales surge on gas prices

The Commerce Department reported that while overall consumer spending topped analyst estimates, the growth was heavily skewed by the energy sector.

Excluding gasoline stations, retail sales rose by a more modest 0.6%, helped by government tax refunds and unseasonably warm weather.

The data reflects the ongoing economic impact of the Iran war, which has entered its eighth week and continues to strain household budgets.

Economists warn that persistent high fuel costs could dampen consumer confidence and influence the upcoming midterm elections.