Consumer sentiment rebounded from a two-year low in March, but shopper sentiment still is at historically depressed levels due to rising inflation, increasing fuel prices, and uneasiness over geopolitical issues.

Core CPI increased 6.5 percent year over year (YOY), and retail sales (excluding the impact of gas sales, autos, and food and dining) increased just 4 percent YOY. Growth in hard goods segments slowed in March, with Consumer Electronics down nearly 10 percent and building materials flat to last year.

Supply chain pressures continue to be a major concern. China is dealing with its biggest rise in COVID infections since early 2020; container ships sit in queue at major ports in China, and COVID outbreaks are wreaking havoc across Chinese manufacturing. Analysts are concerned that this could unleash new shocks to the global supply chain.

Download the April retail and consumer summary.

Download previous summaries: