Economic Buzz: US Retail Sales Slow 0.3% In February

17 Mar 2022 , 09:24 AM

US retail sales rose by 0.3 percent in February after soaring by an upwardly revised 4.9 percent in January, the Commerce Department reported on Wednesday. The uptick in retail sales was partly due to a 5.3 percent surge in sales by gas stations, which largely reflected higher prices at the pump. The report showed core retail sales, which exclude automobiles, gasoline, building materials and food services, tumbled by 1.2 percent in February after spiking by an upwardly revised 6.7 percent in January.

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