As expected, retail sales in the U.S. expanded for the eighth straight month in February, according to figures released by the Department of Commerce on Friday.
Total retail sales came in at $387.1 billion in February, up 1 percent from January, precisely the increase that most economists had expected.
January's figures, however, were revised upward from the 0.3 percent growth originally reported to a notably stronger 0.7 percent increase.
Much of the growth came in increased auto sales, with the report showing a 2.3 percent increase in motor vehicle and parts sales. The increase in retail sales also reflected the increased cost of gasoline, with gas stations showing a 1.4 percent increase in sales.
Excluding auto sales, retail sales increased by 0.7 percent, the same figure predicted by most economists.
RTN
Total retail sales came in at $387.1 billion in February, up 1 percent from January, precisely the increase that most economists had expected.
January's figures, however, were revised upward from the 0.3 percent growth originally reported to a notably stronger 0.7 percent increase.
Much of the growth came in increased auto sales, with the report showing a 2.3 percent increase in motor vehicle and parts sales. The increase in retail sales also reflected the increased cost of gasoline, with gas stations showing a 1.4 percent increase in sales.
Excluding auto sales, retail sales increased by 0.7 percent, the same figure predicted by most economists.
RTN
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