US retail sales dip in February as weather impedes demand

Washington

US RETAIL sales fell more than expected moderately in February amid bitterly cold weather across the country, but a rebound is likely as the government disburses another round of pandemic relief money to mostly lower- and middle-income households.

Retail sales dropped by a seasonally adjusted 3.0 per cent last month, the Commerce Department said on Tuesday. Data for January was revised up to show sales rebounding 7.6 per cent instead of 5.3 per cent as previously reported. Economists polled by Reuters had forecast retail dropping 0.5 per cent in February.