Month-to-Month Retail Sales Slipped in February, NRF Says | Global News Avenue

Retail sales fell last month, according to new data, due to the emphasis on concerns Unemployment rate risesand harsh winter weather.

From January, the total seasonally adjusted retail sales that excludes cars and gas fell by more than 0.2% from January, a measure of monthly retail sales based on credit and debit card purchase data.

Since then, the monthly decline in January has been large, but it also reflects a 3% increase of 3% year-on-year.

“The uneasiness about the possibility of inflation and the payment of higher prices to non-hazardous goods is value-conscious consumers Spend less And save more. “NRF CEO Matthew Shay said in a press release. The latest way to read inflation is in the form of a February CPI report, which will be held on Wednesday.

The news was presented ahead of the latest monthly census bureau data, which shows Retail sales decline Almost 1% from December. This is after a recent reading Consumer confidenceAccording to a survey by the conference committee, the monthly decline last month was the biggest drop since August 2021.

Several retailers plan to report their Results this weekincluding Dick’s sporting goods (DKS) and US dollars (DG).