U.S. Retail Sales Slip

U.S. Retail Sales Slip

By: Tomas Ronolski - AllPennyStocks.com News

Friday, March 17, 2023

Retail sales in the United States dropped 0.4 percent in February after a robust jump in January. The print was adjusted for seasonal swings and was less than economists’ expectations of a 0.3 percent decline. However, year-on-year retail sales data, which is not adjusted for inflation, was 5.4 percent higher than the same time last year.

The print is a brand measure of spending at stores, online and in restaurants. For the month, drops in spending were the greatest in food services and drinking establishments, department stores, furniture and home stores and auto dealers.

Retail sales are measured monthly and released by the U.S. Census Bureau and track consumer demand for finished goods. Retail sales are measured by durable and non-durable goods purchased over a defined period of time. Sales for the report are derived from 13 types of retailers from food service to retail stores.

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