February retail sales rise, highest in five months

(Reuters) – U.S. retail sales posted their largest gain in five months in February as Americans stepped up purchases of motor vehicles and other goods even as they paid more for gasoline.

Total retail sales increased 1.1 percent, the Commerce Department said on Tuesday, after a 0.6 percent rise in January. The increase was broadly in line with expectations.

Details of the report were fairly upbeat and its tenor was also boosted by upward revisions to the prior months’ data, suggesting recent solid gains in employment were helping to cushion consumers against steep rises in gasoline prices.  Read more

Categories: Economics, United States

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