Total Retail Sales Up in February

Retail sales saw gains in February, with moderate growth month over month and strong growth year over year, according to the CNBC/NRF Retail Monitor.

“Despite harsh winter weather, consumer spending grew once again in February, supported by continued wage gains and overall low unemployment levels,” says NRF president and CEO Matthew Shay. “This was the fifth consecutive month that sales rose from the month before, and year-over-year gains were strong. With renewed fighting in the Middle East and its impact on global economies, retailers remain heavily focused on delivering products at competitive prices to value conscious consumers.”

Total retail sales, excluding automobile dealers and gasoline stations, were up 0.28% seasonally adjusted month over month and up 6.24% unadjusted year over year in February. These numbers were up from January, with a 0.2% month over month increase and 5.72% year over year increase last month.

Core retail sales were up 0.27% month over month in February and up 5.87% year over year. That is compared with increases of 0.15% month over month and 5.51% year over year in January.

Sales in building and garden supply stores were down 0.25% month over month seasonally adjusted and down 5.75% year over year unadjusted.