U.S. Retail Sales Drop In February; Third Consecutive Monthly Decline

Four isolated girls out for shopping.Retail sales declined in February, the third consecutive monthly drop, and missed estimates despite Americans having more discretionary spending dollars from lower gas prices.

The colder weather in February likely contributed to the drop in the retail sales, especially with autos sales.

Retail sales were down -0.6 percent in February, missing the estimate of 0.0 percent from Briefing.com, and barely above January’s -0.08 percent, according to the U.S. Commerce Department.

Retail sales (ex auto) were down -0.01 percent, missing the estimate of 0.3 percent from briefing.com. but still higher than – 1.1 percent for January.

-Johnathan Schweitzer

 

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