"There is no sign that higher fuel prices have damaged consumer sentiment and spending"
- Jeremy Lawson, a senior U.S. economist at BNP Paribas
U.S. month on month retail sales rose by more than expected in March, said the Census Bureau on Monday. Total retail sales increased 0.8 per cent the previous month after increasing 1.0 per cent in February.
"There is no sign that higher fuel prices have damaged consumer sentiment and spending," said Jeremy Lawson, a senior U.S. economist at BNP Paribas in New York.
"This is enough to generate solid economic growth. We've seen the job market improve and that's boosting consumption."
In a separate report, the New York Federal Reserve Bank said the economic conditions improved less than expected in April. The general economic index fell to 6.6 from 20.2 in March. Above 0.0 indicates improving conditions.
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