Retail Sales Fell Last Month

I had hoped to see a rebound in consumer spending, and a subsequent uptick in retail sales. No such luck. Retail sales fell 0.1% last month.

The 0.1 percent decline in purchases followed a revised 0.4 percent January decrease, Commerce Department figures showed Tuesday. Sales excluding gasoline rose 0.2 percent in February, reversing the previous month’s retreat.

The decrease in purchases, which included auto dealers, department stores and furniture outlets, showed Americans were salting away money saved at the gas pump amid volatile financial markets. The disappointing reading on the biggest part of the economy comes as Federal Reserve officials meet to gauge whether growth is strong enough to eventually warrant another increase in interest rates.

The retail report topped expectations. The key is that after we exclude gasoline, we’re still seeing an increase in retail sales.

Posted by on March 15th, 2016 at 12:40 pm


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