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Household spending on retail goods strengthened in February led by home improvement while grocery lagged, according to the latest U.S. retail numbers. Holiday results were again revised upward.
Spending at restaurants remained strong as households continue to favor spending outside of traditional retail stores. Auto sales slowed month-to-month, but remain strong year-to-year.
- In February, seasonally adjusted sales excluding autos, food service, and fuel was up a healthy 4.3% from a year ago. That is better than the 3.6% average pace for 2015. These measures exclude gasoline and fuel dealers.
- Holiday sales growth for the November-December period was again revised upward. It came in at 3.7% on a seasonally unadjusted basis and 3.4% when seasonally adjusted. Both results are close to the 3.5% forecast by MacroSavvy™.
See the table summary for more detail.
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