US: Retail sales in February dropped by the most in 14 months

Retail sales fell 0.5% in February, the largest decline since December 2018, while January sales results double in all categories upon revision, Joseph Trevisani from FXStreet reports.

Key quotes

“Retail sales fell 0.5% in February, the largest decline since December 2018. Sales ex-autos dropped 0.4%, both had been forecast to gain 0.2%.”

“The retail sales control group, also known as core retail sales, was flat last month.  It had been predicted to rise 0.4%.”

“January sales figures were revised higher in all three classifications, overall sales and ex-automobiles each jumped to 0.6% from 0.3% and the control group climbed from 0% to 0.4%.”