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- U.S. retail sales dropped 0.6% in February
U.S. retail sales dropped 0.6% in February
The U.S. Commerce Department released the retail sales data on Thursday. The U.S. retail sales dropped 0.6% in February, missing expectations for a 0.5% increase, after a 0.8% decline in January.
The decline was driven by bad weather.
That was the first time since 2012 that retail sales had declined for three consecutive months.
Retail sales excluding automobiles fell 0.1% in February, missing forecasts for a 0.6% rise, after a 1.1% drop in January. January's figure was revised down from a 0.9% decline.
Automobiles sales decreased 2.5% in February.
Gasoline station sales climbed 1.5% as gasoline prices increased about 9 cents in February.
Sales at clothing retailers were flat. Sales at electronics and appliance outlets declined 1.2%, sales at building material and garden equipment stores dropped 2.3% and sales at restaurants and bars fell 0.6%.
Sales at online stores climbed 2.2%, whiles ales at sporting goods and hobby shops rose 2.3%.
These figures indicate that the U.S. economic growth and consumer spending will slow down the first quarter.
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