Strong gains for U.S. retail sales in March

Retail sales in the U.S. rose 9.8 percent in March, the U.S. Commerce Department reported. The increase, the biggest since May 2020, was greater than the 6.1 percent gain forecast in a Dow Jones estimate. It comes on the heels of a new round of stimulus cheques issued to consumers. Building materials were among the leading categories, along with clothing and sporting goods.