21 Apr 2026

American households seemingly remained undaunted by the war in Iran last month, spending more than expected even as measures of consumer sentiment plunged to historic lows. According to figures published by the Census Bureau this morning, so-called “control group” retail sales—with gasoline, cars, food services, and building materials excluded—rose 0.7% in March, beating forecasts set at 0.2% and climbing at a solid 4.8% pace in year-over-year terms. Total receipts at retail stores, online sellers and restaurants rose 1.7% on a month-over-month basis, following a 0.7% gain in the prior month. Ahead of the release, economists were projecting a 1.4% monthly...