Retail sales down for third month, likely chilled by weather

Washington

US RETAIL sales unexpectedly fell for a third straight month in February, likely as harsh weather kept consumers from car showrooms and shopping malls, which could hurt growth prospects for the first quarter.

Snowy and cold weather and the now-settled labour dispute at the country's West Coast ports, which disrupted the supply chain, hurt economic activity early in the year, but the slowdown in growth is seen as temporary against the backdrop of a rapidly firming labour market.