U.S. retail sales rise 0.3 percent in February

Nathan Andrada – Fourth Estate Cooperative Contributor

Washington, DC, United States (4E) – Sales among U.S. retailers climbed slightly more than expected in February, according to a Commerce Department report released on Thursday.

Retail sales climbed 0.3 percent in February after a revised 0.6 percent decline in the earlier month. Economists had predicted a 0.2 percent rise in sales compared with the previous estimate of 0.4 percent decline.

The strong retail sales growth was partially boosted by a sharp rebound in sales by hobby, sporting goods, book and music stores, which increased by 2.5 percent last month after falling by 4.8 percent in January.

Non-store retailers and health and personal care stores also posted a solid gain in sales, with both climbing by 1.2 percent.

Thursday’s report also showed motor vehicle and parts dealers increased their sales by 0.3 percent in February after falling by 2.2 percent in January.

Core retail sales, which exclude cars, gasoline, and building materials sales, also climbed by 0.3 percent after slipping 0.6 percent in January.

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