The US Census Bureau announced today that advance estimates of
US retail and food services sales for February, adjusted for seasonal variation
and holiday and trading-day differences, but not for price changes, were
$387.1bn, an increase of 1.0% from the previous month, and 8.9% above February
Total sales for the December 2010 through February 2011 period
were up 8.2% from the same period a year ago. The December 2010 to January 2011%
change was revised from +0.3% to +0.7%.
Retail trade sales were up 0.9% from January 2011, and 9.5%
above last year. Auto and other motor vehicle dealers sales were up 25.9% from
February 2010 and gasoline stations sales were up 12.9% from last year.
Consumer spending accounts for 70%
of demand in the US economy.
Excluding volatile car and energy
sales, retail and food sales rose 0.6% in February, the biggest gain in four