Despite heavy snow in some regions and in contrast to the usual pattern of slower consumer purchasing in the winter, retail sales rose 0.3%, the Commerce Department reported today.
Despite last week's blizzard that literally shut down Washington, Tower Federal Credit Union is still optimistic about the findings from a new report that show the region has several qualities that may make it ideal for stronger economic growth this year.
Consumers were more willing to spend money last month as retail sales increased 0.5%, the Commerce Department reported today.
TNB Card Services, the card processing arm of credit union owned Town North Bank, saw an 11% increase in the numbers of credit card accounts and a $1.5 increase in retail sales with credit cards.
The region between Washington and Baltimore Md., where the $2 billion Tower Federal Credit Union's 118,000 member base is located, has several qualities that may make it ideal for stronger economic growth this year.
Consumers were leery about opening up their wallets last month as retail sales fell 0.3%, following two consecutive monthly increases, the Commerce Department reported today.