US Retail Sales Miss Forecasts After Steep Drop in Prior Month
- Value of purchases increased 0.6% in February, boosted by cars
- So-called control group that informs GDP stalled last month
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US retail sales rose by less than forecast after a steep drop to start the year, underscoring concerns about the durability of consumer spending.
The value of retail purchases, unadjusted for inflation, increased 0.6% from January after a downward revision to the prior month, Commerce Department data showed Thursday. Excluding cars, sales advanced 0.3%.