Retail sales in the United States declined 0.2 per cent in February after gaining 1.2 per cent in January, the US Commerce Department said today.
The report surprised Wall Street analysts, who had foreseen an increase in retail sales of 0.4 per cent last month.
February's fall was the first monthly decline since November.
Despite the unexpected weakness in February, sales were much stronger in January than first thought. Sales rose a revised 1.3 per cent during the month, almost double the initial estimate of a 0.7 per cent gain.
Year-on-year, retail sales in February advanced 2.7 per cent, compared with a 4.5 percent year-on-year gain recorded the month before.
The decline in February retail sales was led by non-durable goods, down 0.3 per cent. Sales of durables, items expected to last three years or more, were unchanged after rising 1.6 per cent in January.
AFP