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WASHINGTON — U.S. retail sales rose a seasonally adjusted 0.2% in February compared with the month before, the National Retail Federation said earlier this month. NRF also calculated that February’s sales were up 0.8% on an unadjusted basis from a year earlier. The numbers exclude automobiles, gasoline stations and restaurants.
“Sales growth held up well, given warmer-than-normal weather and tax refund delays,” said Jack Kleinhenz, NRF’s chief economist. “While consumers benefit by purchasing more for less, the top-line retail numbers reflect a lack of pricing power and, in many cases, hide underlying consumer demand.
“While consumer spending in the first quarter has been erratic and most often weak, it registers positive improvement as the year continues.”
For January, NRF calculated a 3.8% unadjusted year-over-year increase in retail sales and a seasonally adjusted increase of 0.4% from a strong December.
On a three-month moving average year over year, retail sales have grown 2.8%, according to NRF. When looking at business lines, performance in February was mixed, as electronics and appliance stores saw sales declines while building materials and garden supplies stores saw solid increases.
Among other findings in NRF’s calculations for February:
• Online and other non-store sales increased 1.2% over the previous month and 8.2% unadjusted, year over year.
• Sales at health and personal care stores rose 0.7% seasonally adjusted over the previous month and 2.7% unadjusted, year over year.
• Sales at general merchandise stores declined 0.2% seasonally adjusted from the previous month and were down 1.4% unadjusted, year over year.
• Electronics and appliances stores’ sales declined 2.8% seasonally adjusted from the previous month and 9.8% unadjusted, year over year.
• Furniture and home furnishings store sales increased 0.7% over the previous month and 1.4% unadjusted, year over year.
• Sales at building materials and supplies stores increased 1.8% seasonally adjusted over the previous month and rose 3.7% unadjusted, year over year.
• Sporting goods store sales slipped 0.4% seasonally adjusted over the previous month and declined 6.7% unadjusted, year over year.
• Sales at clothing and accessories stores declined 0.5% seasonally adjusted from the previous month and 1.1% unadjusted, year over year.