Post by bot on Mar 16, 2014 6:55:36 GMT -5
WASHINGTON (MarketWatch) - U.S. retail sales rose in February for the first time in three months as shoppers boosted online purchases and bought more autos, clothing, sporting goods and drug-store items, the government reported Thursday. Retail sales rose a seasonally adjusted 0.3% last month, the Commerce Department said. Economists polled by MarketWatch had forecast retail sales to rise 0.2%. Sales minus the large auto sector also rose 0.3% in February. Retail sales account for about one-third of consumer spending, the main engine of economic growth. Yet spending for January and December were both were revised lower. The decline in spending in January was changed to 0.6% from 0.4% and the sales drop for December was revised to 0.3% from 0.1%. Over the past year, U.S. retail sales have risen by a modest 1.5%.
