WASHINGTON, March 17 (Xinhua) — U.S. retail sales edged up by 0.2 percent in February, weaker than expected, following a revised 1.2 percent decline in January, the U.S. Commerce Department reported on Monday.
Advance estimates of U.S. retail and food services sales for February 2025, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were 722.7 billion dollars, up 0.2 percent from the previous month, and up 3.1 percent from February 2024.
The December 2024 to January 2025 percent change was revised from down 0.9 percent to down 1.2 percent. Amid a strong holiday shopping, the November 2024 to December 2024 percent change was up 0.7 percent.
“Lower-than-expected consumer spending in the first couple of months of the year likely reflected payback for very strong spending in the fourth quarter and weather-related events since then,” National Retail Federation (NRF)Chief Economist Jack Kleinhenz said.
“Moreover, these results show that households are apprehensive and carefully navigating lingering inflation and turmoil related to changing economic policies,” Kleinhenz said.
