News

US Retail Sales Growth Eases to 0.3% in February on High Inflation, Rising Gasoline Prices

0
supermarket interior

American consumers increased retail spending in Feb. but at a slower rate than the previous month, as they struggled with surging gasoline prices related to the Ukraine war.

Source: U.S. Census Bureau.

DXY down -0.41%, EUR USD up +0.38%

Retail sales increased by a seasonally adjusted 0.3% in February compared with January. That figure was a slower rate from January’s revised 4.9% monthly surge.

Sales of autos and auto parts rose by 0.8% and sales at gasoline stations increased by 5.3%.

The recent surge in prices, led by gasoline prices held back consumer spending. Gasoline prices rose by 38% over the year.

February posted a slowdown in auto sales. US consumers bought cars and trucks at an annualized rate of 14.5 million in February, lower than 15.5 million in January.

fxcoach

HSBC Makes Its Entry into the Metaverse in Partnership with The Sandbox

Previous article

US Business Inventories Jump 1.1% in January

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in News