Washington, DC, March 15--Retail sales were up 0.5 percent in February helped by healthy automobile sales, according to the Commerce Department.
The Commerce Department also revised its January retail sales numbers to reflect an increase 0.3 percent. January’s results were originally estimated to have declined by 0.3 percent.
Automobile sales were up 0.7 percent in February, following a drop of 2.1 percent in January.
Excluding automobile sales, retail sales were up 0.4 percent in February following a 1 percent jump in January.
Part of the January increase had been attributed to shoppers using the gift cards they received during the holidays. Estimates are that the redemption of gift cards had pumped up retail sales by nearly $18 billion during December and January.
