Consumers flocked to spend their stimulus checks in January, sending retail sales for the month up 5.3% in a blockbuster start to 2021, according to a government report Wednesday.
Economists surveyed by Dow Jones were expecting a rise of just 1.2%.
Excluding autos, sales rose 5.9%, also far ahead of the 1% estimate in a display of unexpected strength from the consumer.
A month after Congress approved a $900 billion additional stimulus package on top of the $2.2 trillion approved earlier in 2020 to counteract the Covid-19 impact, shoppers were armed with $600 checks they used to buy a variety of goods.