Retail sales in the US also rose in February, although growth slowed after the January jump in a sign that consumers are restricting their purchases amid the explosive rise in inflation affecting their purchasing power.
In particular, retail sales increased by 0.3% after the January jump of 4.9% based on the upward revised data announced today by the US Department of Commerce. The initial measurement was for an increase of 3.8% in January.
Excluding gasoline sales, sales fell 0.2% in February, according to government figures unadjusted for inflation.
Analysts’ average estimates in a Bloomberg poll showed a 0.4% increase in sales from the previous month.
Source: Capital
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