U.S. February Retail Sales Growth Below Expectations, Uncertainty Leads to Low Consumer Confidence

BlockBeats News, March 17th: In the United States, retail sales for February showed a monthly increase, but fell below expectations, with the January sales decline revised from 0.9% to 1.2% month-on-month. The report indicates that out of 13 categories, only 5 categories saw an increase in sales in February compared to January: non-store retailers (representing e-commerce), general merchandise, health and personal care, food and beverages, and building materials.

These categories tend to be essential goods rather than non-essential goods, so the growth in these areas suggests that consumers were cautious about their spending last month. Retailers warn that due to cold weather, tax refund delays, and increasing consumer uncertainty about the economy, February started off weak.

Since January this year, consumer confidence has declined for three consecutive months as Americans try to cope with the Trump administration's constantly changing policies, including intermittent tariffs and widespread federal government layoffs. (Jin10)