Mar 12, 2010
As Snow Steadily Mounted in February, So Did Sales
From the National Retail Federation, more cautiously optimistic news about the economy. The NRF found that February retail industry sales (excluding automobiles, gas stations, and restaurants) increased 1.0 percent seasonally adjusted over January and 1.7 percent unadjusted year-over-year.
Retail sales released today by the U.S. Commerce Department show total retail sales increased 0.3 percent seasonally adjusted over January and 4.1 percent unadjusted year-over-year.
“February could be the direct result of cabin fever with consumers eager to get some fresh air and enjoy a day of shopping,” says Rosalind Wells, Chief Economist for NRF. “We expect sales increases to continue but high unemployment and other economic factors will restrain consumers’ ability to splurge on discretionary items.”
For more on the bump, visit the NRF’s website.
