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U.S. retail sales continue falling in February

Xinhua, March 12, 2015 Adjust font size:

Retail sales in the United States continued declining in February for a third month in a row despite improved labor market and lower energy prices.

The Commerce Department said on Thursday that retail sales in February fell 0.6 percent from the previous month after a 0.8 percent fall in January. Excluding volatile autos category, retail sales were down 0.1 percent in the month, following a decline of 1.1 percent in January.

Some economists held the weak data might reflect the winter weather. Declines were seen in auto and parts sales, building materials and general merchandise stores.

Many economists expected the falling oil price and improvement in labor market will support consumer spending, but the latest figures suggested consumers seemed save more and spend less. The personal saving rate rose to 5.5 percent in January from 5 percent in December 2014.

A second report from the Commerce Department showed manufacturing inventories in January was unchanged from December 2014. The combined sales by manufacturers, wholesalers and retailers fell 2 percent in January, following a 1 percent decline in December. Endi