Across the economy, the U.S. is continuing to rebound from the COVID-19 pandemic. Consumer sentiment has reached its highest levels since the start of the pandemic in March 2020, while new jobless claims decrease and employment rolls continue to expand.
The retail market is also showing signs of recovery. Total retail sales increased 28% year-over-year in March 2021, driven by consumers spending government stimulus checks as well as retail stores continuing to re-open their doors. Every retail category tracked by the U.S. Census Bureau recorded positive sales growth on a monthly basis in March.
Mobility continues to trend upwards on a national level but varies widely across markets due to local COVID-related restrictions. Overall, consumers appear to be doing more walking and driving, while mass transit utilization remains significantly below pre-pandemic levels.
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