13 Mar Retail Sales Decreased 0.2 percent in February
Excluding automobiles, gasoline stations and restaurants, retail sales declined 0.2 percent seasonally-adjusted month-to-month yet were up 3 percent on an unadjusted year-over-year basis.
“Extreme winter weather in many parts of the country impacted store sales in Februar,” NRF Chief Economist Jack Kleinhenz. “American consumers saw their shadows, snow mounds and low temp thermometers last month and decided to stay indoors,” NRF Chief Economist Jack Kleinhenz said in a statement. “Extreme winter weather in many parts of the country impacted store sales in February, and as such monthly retail sales came in weaker than expected.”
“While employment and wages have improved, consumers throttled back their spending in February, although they maintain the desire and the means to spend,” Kleinhenz said. “With the onset of warmer, spring-like temperatures and an earlier Easter, consumers will likely shake off the winter blues and retail sales should rebound.”
NRF has forecasted that retail industry sales will increase 4.1 percent in 2015.
Additional findings from NRF’s monthly retail sales analysis found that:
Building material and garden equipment and supplies dealers:
-2.3 percent month-to-month
+3.5 percent year-over-year
Clothing and clothing accessories stores:
FLAT month-to-month
+2.4 percent year-over-year
Electronics and appliance stores:
-1.2 percent month-to-month
+0.3 percent year-over-year
Furniture and home furnishing stores:
-0.1 percent month-to-month
+5.4 percent year-over-year
General merchandise stores:
-1.2 percent month-to-month
+0.4 percent year-over-year
Health and personal care stores:
-0.7 percent month-to-month
+4.4 percent year-over-year
Online and other nonstore retailers:
+2.2 percent month-to-month
+6.1 percent year-over-year
Sporting goods, hobby, book & music stores:
+2.3 percent month-to-month
+3.3 percent year-over-year