The Commerce Department reported that retail sales edged down 0.1% in
February, less severe than the 0.5 percent drop economists had
expected. The government agency also revised January's performance to show a 1.8%
rise, the biggest increase in three years and stronger than the 1% gain that was originally reported.
The decline in February reflected a 4.3% drop in sales of autos and auto parts, the biggest monthly drop since October. Excluding the auto sector, retail sales would have risen by 0.7% following an even stronger 1.6% gain in January, an increase that was originally reported as a 0.9% rise.
The strength outside autos was led by a big 3.4% jump in sales at service stations, a gain that primarily reflected a rise in gasoline prices during the month. Excluding gasoline sales, retail sales would have fallen by 0.4% in February.
Other areas which showed gains ranged from department and other general merchandise stores, up 1.3%, specialty clothing stores, up 2.8%, and furniture stores, which saw sales increase by 0.7%.
