Pursuits
Sluggish Retail Sales Cast Pall on U.S. Consumer Spending
- February drop broad-based with eight of 13 categories falling
- Revisions wipe away strong January, recasting landscape
U.S. Retail Sales Fall in Feb., Jan. Revised Down
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American retailers had little to cheer about in February and previously reported strong readings for the prior month were wiped away, putting the highly anticipated pickup in consumer spending on hold yet again.
Sales declined 0.1 percent last month, reflecting setbacks in eight of 13 major merchant categories, figures from the Commerce Department showed Tuesday in Washington. But the real disappointment came in revisions to January that turned what had been a surprisingly robust 0.2 percent gain into a dramatic 0.4 percent flop.