US retail sales rebound below forecasts in February

By Mucahithan Avcioglu

ISTANBUL (AA) - Retail sales in the US increased by 0.2% on a monthly basis to $722.7 billion in February, below forecasts of a 0.6% rise, according to advance figures released Monday.

The figure rebounded from a downwardly revised 1.2% monthly fall in January.

Sales at non-store retailers recorded the biggest increase (2.4%), followed by health and personal care stores (1.7%), food and beverage (0.4%), and general merchandise (0.2%).

In contrast, biggest declines were seen at food services & drinking places (1.5%), followed by gasoline stations (1%), clothing (0.6%), motor vehicle & parts dealers (0.4%) and sporting goods, hobby, musical instrument, & book stores (0.4%).

Core retail sales, excluding motor vehicles and parts, rose 0.3% month-on-month in February, also matching estimates.

Meanwhile, on a yearly basis, retail sales rose 3.1% in February.