US retail sales growth subdued as consumer confidence wanes
By Benjamin Chiou
Date: Monday 17 Mar 2025
(Sharecast News) - US retail sales rose less than expected in February, while January's decline was revised down to the biggest decline in more than two years, according to data out on Monday from the Census Bureau.
Retail and food services sales totalled $722.7bn in February, up just 0.2% over the month in seasonally adjusted terms and well below the 0.7% gain expected by a consensus of analysts.
The monthly decline in January, originally reported as -0.9%, was revised to -1.2%, marking the biggest monthly drop since November 2022.
It is thought that ongoing trade policy uncertainty is starting to weigh heavily on household consumption, with consumer confidence taking a hammering due to increased inflation expectations.
Last week's University of Michigan consumer confidence indicator fell more than expected to settle at its lowest level since November 2022.
According to the Census Bureau, the biggest monthly increases in retail sales were seen by nonstore retailers (+2.4%) and in health and personal care stores (+1.7%), while the largest declines were registered in food services and drinking establishments (-1.5%) and gasoline stations (-1.0%).
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