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Why it matters: Retail sales declined in February and March after a big jump in January. Two months of consecutive growth is encouraging.

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But: Consumers’ ability to spend is still likely to decline as the year goes on. Inflation is only now slightly below wage gains and savings are spent down while credit card balances have risen sharply.

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By the numbers:

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• Sales were up at motor vehicles and parts dealers (1.4%), furniture stores (0.4%), electronics and appliance stores (0.2%), building material and garden supply stores (2.2%), food and beverage stores (0.3%), sporting goods and hobby stores (0.3%), general merchandise stores (0.4%), non-store retailers (mostly online sellers) (0.3%), and food and drinking places (0.4%).

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• Sales were down at gas stations (2.6%) and miscellaneous stores (1%).

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Looking ahead: A robust job market could put a floor beneath consumer spending and keep it stronger than in previous economic slowdowns.