Updated: 14-Mar-24 09:49 ET
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Updated: 14-Mar-24 09:49 ET |
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Highlights
- February retail sales increased 0.6% month-over-month (Briefing.com consensus 0.7%) following a downwardly revised 1.1% decline (from -0.8%) in January.
- Excluding autos, retail sales rose 0.3% month-over-month (Briefing.com consensus 0.5%) following a downwardly revised 0.8% decline (from -0.6%) in January.
Key Factors
- Motor vehicle and parts dealer sales increased 1.6% month-over-month after declining 2.1% in January.
- Building material and garden equipment and supplies dealers sales rose 2.2% month-over-month after slumping 4.3% in January.
- Furniture and home furnishing store sales dropped 1.1% month-over-month after increasing 0.2% in January.
- Electronics and appliance store sales jumped 1.5% month-over-month after increasing 2.8% in January.
- Gasoline station sales increased 0.9% month-over-month after falling 1.4% in January.
- General merchandise store sales were up 0.4% month-over-month after being flat in January.
- retailer sales dipped 0.1% month-over-month after slipping 0.3% in January.
- Food services and drinking places sales rose 0.4% month-over-month after declining 1.0% in January.
Big Picture
- The key takeaway from the report is the sales rebound itself, which will quiet some of the concerns about the January downturn, and help the market maintain its soft landing outlook.
Category |
FEB |
JAN |
DEC |
NOV |
OCT |
Retail Sales |
0.6% |
-1.1% |
0.1% |
0.0% |
-0.3% |
Excluding Autos |
0.3% |
-0.8% |
0.1% |
-0.1% |
-0.1% |
Durable goods |
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Building Materials |
2.2% |
-4.3% |
0.9% |
-1.4% |
0.1% |
Autos/parts |
1.6% |
-2.1% |
0.2% |
0.3% |
-1.0% |
Furniture |
-1.1% |
0.2% |
-2.2% |
2.7% |
-2.2% |
Nondurable goods |
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General Merchandise |
0.4% |
0.0% |
0.7% |
-0.2% |
0.0% |
Food |
0.1% |
-0.3% |
-0.3% |
0.3% |
0.1% |
Gasoline stations |
0.9% |
-1.4% |
-0.8% |
-3.7% |
-1.7% |
Clothing |
-0.5% |
-0.8% |
1.4% |
1.2% |
-0.1% |
e*retailing/non-store |
-0.1% |
-0.3% |
1.3% |
0.4% |
-0.3% |