Steady Boost For February Retail Sales

Retail sales rose for the ninth straight month in a row,
according to the U.S. Commerce Department.

February retail sales increased one percent seasonally over
January, and 9.1 percent unadjusted year-over-year, the Department found.

Clothing and accessory stores sales increased 0.8 percent
seasonally adjusted from January, and 4.4 percent unadjusted from last year.

Department stores show a gain of 1 percent over January but
saw a decline of 1.4 percent unadjusted from last year.

“February retail sales are in sync with evidence of the
expanding economy,” said NRF Chief Economist Jack Kleinhenz in a statement.
“While February is typically a slow month for retailers, consumers showed their
spending power, though it’s too soon to tell what type of impact the spike in
gasoline prices will have on consumers this spring.”

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