Continuing a recent run of positive microeconomic news, retail sales in the U.S. rose 1.1 percent in the month of February. The number was above analyst expectations, according to Reuters.
News was less positive for the electronics and appliance category, which dropped 0.2 percent.
“Consumers, once again, exceeded economists’ expectations and estimates in February,” NRF Chief Economist Jack Kleinhenz said in a statement issued by the trade group.
“It may be too early to measure the impact of the payroll tax hike and higher gasoline prices on consumer spending. However, this portends a good, but not great, first quarter for retailers as consumers continue to breathe life into the economy.”
