US February retail sales fall 0.6 pct, down 0.2 pct excluding autos |
| CNNMoney.com - Mar 13, 2008 |
US consumers piled on another piece of evidence that the economy is in or heading for a recession last month as sales fell across almost the entire range of retailers.
The Commerce Department said February retail sales plunged 0.6 pct, as auto dealers and gasoline stations, as well as 'core' retail outlets, reported major declines.
The 0.6 pct fall was more than even the worst estimate of a 0.5 pct drop from economists polled by Thomson's IFR Markets. The median forecast was for 0.2 pct increases both with and without auto sales included.
The unexpected decline 'confirms the US slowdown is already taking hold among US consumers,' said Ashraf Laidi of CMC Markets
Auto sales fell 1.9 pct, and excluding autos, February retail sales were down 0.2 pct.
Read Full Article from CNNMoney.com
- Posted: 2008-03-13 09:58:49
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