US retail sales see fresh decline in February
The report showed that retail sales excluding automobiles, gasoline, building materials and food services were unchanged after posting a 0.1% drop in the previous month. In February, automobile sales declined 2.5%, posting the largest drop in a year, while sales for building materials and garden equipment fell 2.3%, the biggest decline since May 2012.
In the last quarter of 2014, the US economy grew by 2.2%. Economists’ initial estimates for the first quarter have called for a growth rate ranging between 1.7% and 2.5%.
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