Store sales suffer big stumble
Retail sales were much worse than expected in February, a sign that consumers are cutting back.
By Parija B. Kavilanz, CNNMoney.com senior writer
Last Updated: March 13, 2008: 8:41 AM EDT
Monthly retail sales suffered a surprising drop last month as American households continued to curtail their spending amid higher energy and food prices and a weakening jobs market.
The Commerce Department reported Thursday that total retail sales fell 0.6%, compared to a revised 0.4% increase in January. January sales were originally reported to have increased 0.3%
Economists surveyed by Briefing.com expected a 0.2% gain in retail sales for the month.
Stripping out volatile auto sales, sales fell 0.2% compared to a revised 0.5% gain in January. January sales, excluding autos, were originally reported to have increased 0.3%.
Economists had anticipated a 0.2% gain in the measure.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment