Retail Sales in U.S. Increase for First Time in 3 Months

Sales at U.S. retailers rose in February for the first time in three months, claims for jobless benefits dropped last week and consumer confidence improved, pointing to an economy regaining traction after a harsh winter slowed demand even more than previously estimated.

The 0.3 percent advance in purchases followed a 0.6 percent drop in January that was larger than initially reported, the Commerce Department in Washington said. Unemployment claims unexpectedly fell to a more than three-month low and consumer sentiment rose to the second-highest level since August.