Harsh weather temporarily weighs on US retail sales in February
- Retail sales dropped by a seasonally adjusted 3.0% last month, the Commerce Department said on Tuesday. Data for January was revised up to show sales rebounding 7.6% instead of 5.3% as previously reported. Economists polled by Reuters had forecast retail dropping 0.5% in February.
- With many households set to get another round of direct checks that are more than double what they received in January, we expect spending to receive another jolt in just a few months time.