The initial value of U.S. retail sales in February increased by 0.6%, exceeding expectations
The U.S. Department of Commerce announced on Wednesday that preliminary estimates show retail sales increased by 0.6% in February, higher than the revised -0.1% in January and above the market forecast of a 0.4% increase. Excluding automobiles and parts, retail sales in February grew by 0.5%.
The retail sales data has been seasonally adjusted but not adjusted for inflation. Due to last year's government shutdown, the February retail sales report was released a few weeks late.
On a year-over-year basis, retail sales in February rose by 3.7%
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