U.S. retail sales fell in February, as consumers pulled back their spending on building materials, groceries, furniture, electronics and clothing amid signs of a slowing economy.
FILE- In this March 14, 2019, file photo people attend the opening of a Piaget store during the opening night of The Shops & Restaurants at Hudson Yards in New York. On Monday, April 1, the Commerce Department releases U.S. retail sales data for February.
The Commerce Department said Monday that retail sales fell 0.2 percent in February, after posting an upwardly revised gain 0.7 percent in January. Still, sales are running below their seasonally adjusted levels from November after a sharp 1.6 percent decline in December. Over the past year, retail sales have roughly kept pace with inflation by increasing a slight 2.2 percent.
The recent dip in consumer spending suggests that more Americans are tightening their belts amid slowing global growth and waning effects of President
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