Christopher Rugaber and Joseph Pisani
Newly vaccinated and armed with $1,400 stimulus checks, Americans went on a spending spree last month, buying new clothes and going out to eat again. Retail sales surged a seasonally adjusted 9.8% after dropping about 3% the month before, the Commerce Department said Thursday.
AP photo
WASHINGTON — A much-awaited economic boom coming off the pandemic recession appeared to edge closer to reality Thursday with fresh data showing the pace of layoffs dwindling, consumers spending freely and manufacturing rebounding.
The latest barometers point to a U.S. economy that’s steadily regaining its health as vaccinations accelerate, business curbs are lifted in many states and more people are willing to travel, shop, eat out and otherwise resume their spending habits. Though many Americans who have lost jobs or income are still suffering, hopes are rising that the benefits of the recovery will spread further in the coming months to groups of people who have yet to benefit.