US Advance Retail Sales declined in February

FXStreet (Mumbai) - The official data released in the US today showed the advance retail sales fell 0.6% in February, compared to the 0.8% fall registered in January. Economists were expecting a 0.3% rise in the retail sales.

Retail sales ex-Auto also missed the expectation of a 0.5% rise by printing lower at -0.1%. The prior month’s figures stand revised at -1.1%, compared to the initial estimate of -0.9%. Though the pace of contraction slowed down in February, the actual number missed the economists forecast by a wide margin. Furthermore, previous month’s figures were revised lower.