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Enviado: 13/3/2007 14:038:30 AM ET
U.S. Feb. clothing store sales fall 1.8%
U.S. Feb. gasoline sales up 1.2% on higher prices
U.S. Jan. retail sales unrevised at 0.0%
U.S. Feb. general merchandise store sales fall 0.6%
U.S. Feb. auto sales up 0.9%
U.S. Feb. retail sales ex-autos, ex-gas down 0.3%
U.S. Feb. retail sales ex-autos fall 0.1% vs. +0.2% expected
U.S. Feb. retail sales up 0.1% vs. 0.2% expected
ECONOMIC REPORT:Retail sales remain weak in February; Outside cars and gas, sales drop at fastest rate in 3 years
By Rex Nutting, MarketWatch Last Update: 8:46 AM ET Mar 13, 2007
WASHINGTON (MarketWatch) -- U.S. retail sales stayed soft in February, rising just 0.1% after no gain in January, the Commerce Department reported Tuesday.
Sales were led by a solid 0.9% rise in auto sales and a 1.2% rise in gasoline station sales, which was boosted by higher prices at the pump.
Sales elsewhere were weak.
Sales excluding autos fell 0.1%, the first decline since October. And excluding both cars and gasoline sales, retail sales fell 0.3%, the largest decline since April 2004.
Sales were weaker than economists' expectations for 0.2% gains for both overall sales and for sales excluding autos.
Total retail sales were up 3.2% compared with February 2006. The figures are not adjusted for price changes.
Sales at general merchandise stores dropped 0.6%, the biggest decline since June 2004, led by a 1.6% drop in sales at department stores.
Despite the tepid retail sales so far this quarter, economists are looking for inflation-adjusted consumer spending to grow about 3% in the first quarter over the fourth quarter's average. In December, retail sales jumped 1.2%, bringing first-quarter sales a good head start compared with the fourth-quarter average.
Retail sales account for about half of consumer spending, which in turns accounts for about two-thirds of final sales in the economy.
The report is likely to raise a few eyebrows at the Federal Reserve, which meets in a week to discuss interest-rate policy. No change is expected in the Fed's 5.25% overnight lending rate at the meeting.
Fed officials have noted the slowing economy, but have maintained confidence that consumer spending would hold up despite the collapse of the housing market. They still judge that higher inflation remains a greater risk to a stable economy than slower growth.
Details
In February, sales at the mall were weak, as reported earlier by retail chains. Sales at clothing stores dropped 1.8%, the biggest drop since September 2005 when hurricanes disrupted spending. Sales at leisure-time activity stores - such as books, hobbies and sporting goods - fell 0.8%.
Sales at nonstore retailers, such as catalogs and online stores, rose 2.8%, the biggest gain in nine months.
Sales at food and beverage stores rose 0.6%. However, sales at restaurants and bars dropped 1.2%, the biggest drop since September 2003.
Sales at health-care and personal-care stores were flat.
Sales of durable goods were soft outside the auto sector, reflecting slower home sales. Sales at building materials and garden stores fell 1.4%, sales at furniture stores dropped 1.7%, and sales at electronics and appliance stores fell 0.3%.
U.S. Feb. clothing store sales fall 1.8%
U.S. Feb. gasoline sales up 1.2% on higher prices
U.S. Jan. retail sales unrevised at 0.0%
U.S. Feb. general merchandise store sales fall 0.6%
U.S. Feb. auto sales up 0.9%
U.S. Feb. retail sales ex-autos, ex-gas down 0.3%
U.S. Feb. retail sales ex-autos fall 0.1% vs. +0.2% expected
U.S. Feb. retail sales up 0.1% vs. 0.2% expected
ECONOMIC REPORT:Retail sales remain weak in February; Outside cars and gas, sales drop at fastest rate in 3 years
By Rex Nutting, MarketWatch Last Update: 8:46 AM ET Mar 13, 2007
WASHINGTON (MarketWatch) -- U.S. retail sales stayed soft in February, rising just 0.1% after no gain in January, the Commerce Department reported Tuesday.
Sales were led by a solid 0.9% rise in auto sales and a 1.2% rise in gasoline station sales, which was boosted by higher prices at the pump.
Sales elsewhere were weak.
Sales excluding autos fell 0.1%, the first decline since October. And excluding both cars and gasoline sales, retail sales fell 0.3%, the largest decline since April 2004.
Sales were weaker than economists' expectations for 0.2% gains for both overall sales and for sales excluding autos.
Total retail sales were up 3.2% compared with February 2006. The figures are not adjusted for price changes.
Sales at general merchandise stores dropped 0.6%, the biggest decline since June 2004, led by a 1.6% drop in sales at department stores.
Despite the tepid retail sales so far this quarter, economists are looking for inflation-adjusted consumer spending to grow about 3% in the first quarter over the fourth quarter's average. In December, retail sales jumped 1.2%, bringing first-quarter sales a good head start compared with the fourth-quarter average.
Retail sales account for about half of consumer spending, which in turns accounts for about two-thirds of final sales in the economy.
The report is likely to raise a few eyebrows at the Federal Reserve, which meets in a week to discuss interest-rate policy. No change is expected in the Fed's 5.25% overnight lending rate at the meeting.
Fed officials have noted the slowing economy, but have maintained confidence that consumer spending would hold up despite the collapse of the housing market. They still judge that higher inflation remains a greater risk to a stable economy than slower growth.
Details
In February, sales at the mall were weak, as reported earlier by retail chains. Sales at clothing stores dropped 1.8%, the biggest drop since September 2005 when hurricanes disrupted spending. Sales at leisure-time activity stores - such as books, hobbies and sporting goods - fell 0.8%.
Sales at nonstore retailers, such as catalogs and online stores, rose 2.8%, the biggest gain in nine months.
Sales at food and beverage stores rose 0.6%. However, sales at restaurants and bars dropped 1.2%, the biggest drop since September 2003.
Sales at health-care and personal-care stores were flat.
Sales of durable goods were soft outside the auto sector, reflecting slower home sales. Sales at building materials and garden stores fell 1.4%, sales at furniture stores dropped 1.7%, and sales at electronics and appliance stores fell 0.3%.