The Commerce Department’s U.S. Census Bureau today released retail sales data for February 2010. Retail sales grew an unexpected 0.3 percent compared with private-sector forecasts of a 0.3 percent decline. Excluding motor vehicles, retail sales grew 0.8 percent. Retail sales have grown 3.9 percent over the past year.
“The resilience of retail spending in the face of February’s snowstorms shows the growing willingness of consumers to spend, and it's another welcome sign of economic recovery,” Commerce Secretary Gary Locke said. “But rescuing the economy is only the first step. Jobs are the president’s top priority, and we will continue to do everything we can every single day to put Americans back to work.”
Source: U.S. Department of Commerce
