U.S. Retail Sales Grew 0.3% in February

[mahatmakanejeeves]

Source: The Wall Street Journal.

ECONOMY * U.S. ECONOMY

U.S. Retail Sales Grew 0.3% in February

Spending rose at slower pace than in January, as consumers faced high inflation, rising gasoline prices

By David Harrison
Updated March 16, 2022 8:47 am ET

Americans kept up retail spending in February but at a slower pace than the prior month, as they faced high inflation and rising gasoline prices related to Russia’s invasion of Ukraine.

Retail sales rose a seasonally adjusted 0.3% in February compared with January, the Commerce Department said Wednesday, a slowdown from January’s revised 4.9% monthly increase. Retail sales figures are not adjusted for inflation.

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Read more: https://www.wsj.com/articles/us-economy-february-2022-retail-sales-11647375833

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The source:

https://www.census.gov/economic-indicators/#retail_sales

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Prediction from earlier this morning:

ECONOMY | U.S. ECONOMY
U.S. Retail Sales Grew in February, Economists Estimate
Consumers appeared willing to absorb rising inflation as Omicron threat faded last month ahead of the Ukraine crisis

https://www.wsj.com/articles/us-economy-february-2022-retail-sales-11647375833

By David Harrison
https://twitter.com/d_harrison
[e-mail]
March 16, 2022 5:30 am ET

Americans kept up retail spending in February but at a slower pace than the prior month, economists estimate, as they assessed the implications of high inflation and Russia’s invasion of Ukraine.

Economists surveyed by The Wall Street Journal estimate that retail sales rose 0.4% in February from the previous month, easing from January’s strong 3.8% increase. Retail sales figures aren’t adjusted for inflation.

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[Chainfire]

1. Does inflation account for the increase?

We may be just buying less and paying more. The positive side of that is that, somewhere, someone is making money from it. Maybe it will trickle down on us.

[mahatmakanejeeves]

2. "Retail sales figures are not adjusted for inflation." NT

[mahatmakanejeeves]

3. U.S. retail sales increase moderately in February

Reuters

U.S. retail sales increase moderately in February

Wed, March 16, 2022, 8:45 AM · 2 min read

WASHINGTON (Reuters) - U.S. retail sales rose moderately in February as more expensive gasoline and food forced households to cut back spending on other goods, which could restrain economic growth this quarter.

Retail sales increased 0.3% last month, the Commerce Department said on Wednesday. Data for January was revised higher to show sales surging 4.9% instead of 3.8% as previously reported. Economists polled by Reuters had forecast retail sales slowing to 0.4%, with estimates ranging from as low as a 0.7% decline to as high as a 1.7% increase.

The moderate rise in retail sales came ahead of an expected interest rate increase from the Federal Reserve later on Wednesday, the first in just over three years.

{snip}

Retail sales are mostly made up of goods and are not adjusted for inflation. Restaurants and bars are the only services category in the retail sales report.

{snip}

[progree]

4. January and February together make a very nice package, even after inflation

Last edited Wed Mar 16, 2022, 12:48 PM - Edit history (1)

All below are month-to-month changes. They are also all seasonally adjusted.
January: +0.6%, February: +0.8% ... CPI
January: +4.9%, February: +0.3% ... Retail Sales (not inflation-adjusted)

CPI: https://www.democraticunderground.com/10142885540