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U.S. Retail Sales Declined in February as Weather Impeded Demand

  • Decrease followed an upwardly revised 7.6% jump in January
  • Activity poised to climb in months ahead on vaccines, stimulus
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WATCH: Bad weather drives down retail sales.Source: Bloomberg)
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U.S. retail sales declined in February, when inclement winter weather settled over large swaths of the country, representing a temporary setback in demand that’s poised to accelerate in coming months.

The 3% decrease in total retail receipts followed an upwardly revised 7.6% surge in January that was the strongest advance in seven months, Commerce Department figures showed Tuesday. The median forecast in a Bloomberg survey of economists called for a 0.5% drop in February.