U.S. retail sales posted a surprising gain in February despite falling car demand amid trouble at auto maker Toyota Motor Corp. and fierce blizzards that crippled the East Coast for days.
Retail sales rose last month by 0.3%, the Commerce Department said Friday. With the Super Bowl football championship game early in the month, electronic store sales soared.
Economists surveyed by Dow Jones Newswires had forecast a 0.3% decrease.
January retail sales were adjusted downward, to a 0.1% increase from a previously reported 0.5% gain.
Excluding the car sector, all other retail sales rose 0.8%. Economists had forecast a 0.1% increase. Ex-auto sales in January rose 0.5%, revised from a previously estimated 0.6% gain.
Retail sales data are an important indicator of consumer spending. Consumer spending makes up 70% of gross domestic product, which is the broad measure of U.S. economic activity.
The retail sales report showed U.S. car and parts sales dived by 2.0% last month. Toyota suffered because of fallout from recalls and quality problems. Its sales fell 8.7% to 100,027 vehicles, previously issued industry data showed.
Filling station sales in February rose 0.3%.
Excluding sales of gasoline and cars, other retailers' sales jumped 0.9% last month, the biggest gain in three months.
Merchants reported sales increases included restaurants and bars, 0.9%; electronic and appliance stores, 3.7%; food and beverage stores, 1.3%; clothing stores, 0.6%; general merchandise stores, 1.0%; sporting goods, hobby, book and music stores, 1.2%; building material and garden supplies dealers, 0.5% and furniture retailers, 0.7%.
Non-store retailers, oddly, were flat last month despite the snow that paralyzed the East and kept many consumers housebound. The non-store category includes mail-order and Internet retailers.
Health and personal care store sales fell 0.7%, the only category aside from autos to report declining sales in February.
Retail sales rose last month by 0.3%, the Commerce Department said Friday. With the Super Bowl football championship game early in the month, electronic store sales soared.
Economists surveyed by Dow Jones Newswires had forecast a 0.3% decrease.
January retail sales were adjusted downward, to a 0.1% increase from a previously reported 0.5% gain.
Excluding the car sector, all other retail sales rose 0.8%. Economists had forecast a 0.1% increase. Ex-auto sales in January rose 0.5%, revised from a previously estimated 0.6% gain.
Retail sales data are an important indicator of consumer spending. Consumer spending makes up 70% of gross domestic product, which is the broad measure of U.S. economic activity.
The retail sales report showed U.S. car and parts sales dived by 2.0% last month. Toyota suffered because of fallout from recalls and quality problems. Its sales fell 8.7% to 100,027 vehicles, previously issued industry data showed.
Filling station sales in February rose 0.3%.
Excluding sales of gasoline and cars, other retailers' sales jumped 0.9% last month, the biggest gain in three months.
Merchants reported sales increases included restaurants and bars, 0.9%; electronic and appliance stores, 3.7%; food and beverage stores, 1.3%; clothing stores, 0.6%; general merchandise stores, 1.0%; sporting goods, hobby, book and music stores, 1.2%; building material and garden supplies dealers, 0.5% and furniture retailers, 0.7%.
Non-store retailers, oddly, were flat last month despite the snow that paralyzed the East and kept many consumers housebound. The non-store category includes mail-order and Internet retailers.
Health and personal care store sales fell 0.7%, the only category aside from autos to report declining sales in February.
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