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U.S. Retail Sales Rise 0.6% in February, Beating Forecasts
The control group, a closely watched gauge of underlying demand, rose 0.45% as spending increased at nearly every category, the Commerce Department 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.
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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 …
·New York, United States
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Coverage Details
Total News Sources78
Leaning Left14Leaning Right12Center31Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 25%
C 54%
R 21%
Factuality
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