U.S. Retail Sales Unexpectedly Fall for Third Straight Month

U.S. retail sales unexpectedly fell in February for a third month, adding to signs that consumer spending will cool this quarter from the previous period’s hot pace, according to Commerce Department figures released Wednesday.

The results indicate consumer spending, the biggest part of the economy, is easing after rising at a 3.8 percent annualized pace in the fourth quarter, the fastest in more than a year. Shoppers may be taking a breather following a run-up in borrowing in late 2017, and relatively tepid wage growth is limiting Americans’ purchasing power.