Retail sales rebound in February to $738.4 billion
The rebound was driven by a recovery in auto sales and gasoline, and comes after a 0.1% drop in January.
Grocery store in New York/ TIMOTHY A. CLARY.
U.S. household consumption returned to growth in the month of February, according to data released Wednesday by the Commerce Department, which came in slightly better than markets had anticipated.
Retail sales rose 0.6% from the previous month to $738.4 billion, after falling back in January, according to official data.
That's slightly better than the 0.5% increase analysts expected, according to the consensus published by MarketWatch.
The rebound was driven by a recovery in auto sales and gasoline, and comes after a 0.1% drop in January.
Excluding vehicle purchases and repairs, the increase is 0.5% on an annual basis, which also exceeds analysts' forecasts (+0.3%).
Year-over-year, this index, which includes items such as purchases in stores, outings to restaurants or fuel purchases, among others, showed an upward trend, 3.7%.
Downward trend in the real estate sector
By contrast, furniture and food showed a downward trend.
The upturn also benefited first and foremost local stores, followed by online sales, while purchases in department stores remain stable.
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