February Retail Sales Down 0.6%

February Retail Sales Down 0.6%

March 13, 2008 0 Comments

(March 13, 2008) – The Census Bureau released Advance Monthly Sales for Retail and Food Services: February 2008 this morning, announcing that advance estimates of U.S. retail and food services sales for February, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $380.2 billion, a decrease of 0.6% from the previous month, but 2.6% above February 2007. Total sales for the December 2007 through February 2008 period were up 3.3% from the same period a year ago. The December 2007 to January 2008 percent change was revised from +0.3% to +0.4%.

Retail trade sales were down 0.6% from January 2008, but were 2.4% above last year. Gasoline station sales were up 20.2% from February 2007 and sales were up 6.3% from last year.

Not so good for the month but OK for the 3 month period. Consistent with slow growth but not with falling GDP.

JR

John Rutledge

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