US retail sales rise 0.6pc in February

(Sharecast News) - US retail sales rebounded in February, rising 0.6% month‑on‑month after a 0.1% decline in January, according to the Census Bureau, coming in slightly ahead of forecasts for a 0.5% increase to mark the strongest reading in seven months. Gains were broad‑based, led by a 3% increase at department stores, a 2.3% rise in health and personal care retailers, and 2% uptick at clothing retailers. However, sales fell 1% month-on-month at both food and beverage stores and furniture outlets.

Control‑group sales, which exclude food services, autos, building materials and gasoline and feed directly into GDP calculations, rose 0.5%, ahead of expectations for a 0.3% increase.







Reporting by Iain Gilbert at Sharecast.com