Source: Reuters (via feed)
U.S. retail sales increased solidly in February. Motor vehicle purchases rebounded during the month. Temperatures also warmed during this period. The increase in retail sales coincided with these factors.
Rising gasoline prices due to the war in the Middle East have been reported. These higher fuel prices could affect consumer spending in the coming months. However, no specific data on future sales was provided.
BizTrendWire Insight:
Retail sales growth in February was supported by motor vehicles and seasonal weather changes.
Retail sales growth in February was supported by motor vehicles and seasonal weather changes.
