Keeping you up to date on the latest data releases.
- Retail Sales
Total retail sales increased at a nonannualized rate of 1.1 percent in February, year-over-year retail sales are up 4.6 percent. Auto sales increased 1.1 percent in February, following a decrease in January of 0.4 percent. Excluding autos, retail sales increased 1.0 percent, over the past 12 months. Retail sales excluding autos are up 3.9 percent. Contributing to the monthly gain in total sales were improvements for gasoline stations (up 5.0 percent), miscellaneous store retailers (up 1.8 percent), non-store retailers (up 1.6 percent), and grocery stores (up 0.7 percent). Gasoline station sales increased due to high gasoline prices and contributed nearly half of the growth in total sales, retail sales excluding gasoline station sales rose just 0.6 percent. Sectors that saw the largest declines in February were furniture and home furnishing stores (down 1.6 percent), sporting goods, hobby, book and music stores (down 1.0 percent), and food service and drinking places (down 0.7 percent). A less volatile indicator of sales growth, “core” retail sales (which excludes sales of autos, building supplies, and gas stations) increased 0.4 percent in February, and are up 3.8 percent on a year-over-year basis.