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Economic Update: Retail Sales

The Commerce Department reported that Retail Sales rose in the month of February by +0.3%. This was above the consensus for an decline of -0.2%.

When you strip out the sales of autos, sales were up by +0.8%, which, again, was a better than the consensus for an increase of +0.1%. And when you take out autos and gasoline, sales improved by +0.9%, which was also above the +0.3% consensus and January’s reading of +0.6%

Sales for the month of January were revised lower to show an advance of +0.1% from the initial reading of +0.5%. Ex-autos, January sales were revised down a tenth to +0.5% from +0.6%.

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