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U.S. retail sales drop in February from Jan. levels boosted by stimulus checks

U.S. retail sales drop in February from Jan. levels boosted by stimulus checks

U.S. retail sales fell a seasonally adjusted 3% in February from January, the Commerce Department said Tuesday. The decline comes after retail sales soared in January as people spent $600 stimulus checks sent at the end of last year. The Commerce Department revised its January number upwards to 7.6% from its previously reported rise of 5.3%. Analysts said icy weather also contributed to the drop.

Skeptic
Skeptic
Idaho Liberal
Idaho Liberal 0 months

Nothing to see here - February is typically the slowest month for retail.

JakeN
JakeN 0 months

Up and down, with employment numbers still lower and corporate debt rising I'm sure we have a very tough 20 years ahead of us

Seekster
Seekster 0 months

Gas prices sure have jumped though.

Skeptic
Skeptic 0 months

Zero Hedge loses credibility with its headline. -3% is not a collapse, especially since January was artificially boosted and it was revised upwards 2.3% at the same time. So, Feb. retail sales in dollars is just about where forecast and not bad given weather. The internet sales drop is somewhat more notable.

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