Advance retail sales grew 0.3% for the month, slightly below the 0.4% Dow Jones estimate.
Stripping out autos, sales were up 0.2%, well below expectations for a 0.9% increase and indicative that after a rapid pace to start the year, consumers were slowing down.
The spending numbers were well below the rise in prices, which increased 0.8% in February, according to Labor Department data released last week. Retail spending numbers are not adjusted for inflation.One bright spot in the numbers released Wednesday is that January spending was revised up to an increase of 4.9%, a blistering pace that was even stronger than the initial estimate of 3.8%.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's Retail Sales, Industrial Data Soundly Beat ExpectationsThe data releases combine the two months of January and February as is the Chinese statistics bureau custom to avoid distortions from the Lunar New Year holiday.
Read more »
NZD/USD attract bids near 0.6730 on robust China’s Retail SalesThe NZD/USD pair has rebounded from 0.6730 as Chinese authorities post robust yearly Retail Sales growth for February. China’s Retail Sales print at 6
Read more »
US Retail Sales Preview: Relentless shopper may provide dollar-selling opportunity ahead of the FedEven war cannot stop America's shopping spree – and retail sales figures for February capture the time before Russia invaded Ukraine. There is room fo
Read more »
AUD/USD sticks to strong gains near mid-0.7200s, moves little post-US Retail SalesAUD/USD sticks to strong gains near mid-0.7200s, moves little post-US Retail Sales By HareshMenghani AUDUSD RiskAppetite RetailSales Fed Currencies
Read more »
Cancer Survivor Hopes to Be Among the First to Sell Retail Marijuana in NJA woman who used marijuana to help with her fight with breast cancer is hoping to become among the first in New Jersey to sell cannabis on the retail market. CydneyLongNBC10 has her story:
Read more »
First-party data is essential for effective omnichannel retailFrom bricks-and-mortar stores to direct-to-consumer darlings, omnichannel acceleration is going both ways in the retail industry.
Read more »