Shoppers picked up their spending in February after a pullback the previous month, the Associated Press reports, reflecting the mixed feelings Americans have in an economy where prices are up, but jobs are plentiful.
Retail sales rose 0.6% last month after falling a revised 1.1% in January, dragged down in part by inclement weather, according to the Commerce Department’s report on Thursday. February’s number was lifted in part by higher gas prices and higher auto sales. Excluding sales from gas stations and auto dealers, sales were up 0.3%.
Business at general merchandise stores rose 0.4%, while electronics and appliance stores had a solid 1.5% increase. Restaurants posted a 0.4% increase. Furniture and home furnishings stores saw a 1.1% decline. Online sales were down 0.1%.
Household spending is being fueled by a strong jobs market and rising wages, but spending has become choppy in the face of rising credit costs and higher prices.
The government’s monthly retail sales report offers only a partial look at consumer spending; it doesn’t include many services, including travel and hotel lodges. It’s also not adjusted for inflation.
