Financial News: U.S. Retail Sales Pull Back Slightly More Than

U.S. Retail Sales Pull Back Slightly More Than Expected In February

03/15/2023 - 08:36:00 (RTTNews)

(RTTNews) - After reporting a sharp increase in U.S. retail sales in the previous month, the Commerce Department released a report on Wednesday showing sales pulled back by slightly more than expected in the month of February.

The Commerce Department said retail sales fell by 0.4 percent in February after spiking by an upwardly revised 3.2 percent in January.

Economists had expected retail sales to decrease by 0.3 percent compared to the 3.0 percent surge originally reported for the previous month.

Excluding a steep drop in sales by motor vehicle and parts dealers, retail sales edged down by 0.1 percent in February after jumping by 2.4 percent in January. The dip matched expectations.

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