US EditionU.S. Retail Sales Rise 0.6% in February, Beating Forecasts
The control group rose 0.45%, suggesting underlying demand held up despite weak job growth and low consumer sentiment, FactSet said.
- United States retail sales rose 0.6% in The February, the Commerce Department reported Wednesday, surpassing the 0.5% increase Economists projected in a FactSet poll.
- Retail spending climbed across nearly every category, with department stores , personal care shops , and clothing retailers leading; only grocery and furniture retailers each declined 1%.
- Despite the uptick, the Commerce Department noted the war involving the United States, Israel, and Iran is causing gasoline prices to surge, potentially curbing future consumer spending.
- Americans continue to power the economy through their spending as layoffs remain historically low, supporting consumer activity despite tepid job growth over the past year.
57 Articles
57 Articles
Retail sales rose in February before the Iran war, which threatens to derail spending
Shoppers increased their spending in February, particularly on cars and clothing, after pulling back at the start of the year due to severe winter storms. Retail sales rose a better-than-expected 0.6% in February, from a revised 0.1% decline in January,…
U.S. household consumption grew again in February, according to data released on Wednesday by the Department of Commerce, which turned out to be slightly better than the markets had anticipated.Read more
Consumers Open Their Wallets Again as Retail Sales Rise 0.6 Percent
Shoppers opened their wallets again in February after consumers stayed home during January’s severe winter storm. Retail sales rose by 0.6 percent, from an upwardly revised 0.1 percent decline in the previous month, according to new Census Bureau data released on April 1. Market watchers had penciled in a 0.5 percent increase. On a 12-month basis, retail sales jumped to 3.7 percent. This represented the best monthly gain in seven months, fueled …
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