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US retail sales see fresh decline in February

by ChemOrbis Editorial Team - content@chemorbis.com
  • 12/03/2015 (16:53)
According to a report released by the US Commerce Department, the country’s retail sales fell for a third consecutive month in February. The country’s retail sales declined 0.6% in February after decreasing 0.8% in January. Initial estimates called for a 0.3% increase in a survey by Reuters. The decrease in retail sales was attributed to tough weather conditions.

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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