FINANCIAL TIMES: US retail sales fell for a third month in a row in February, suggesting American consumers remain wary of splashing out in stores despite the rapidly improving jobs market and the windfall of tumbling fuel prices…
The Commerce Department said retail sales dropped 0.6 per cent, following a decline of 0.8 per cent the previous month. Record cold snaps for parts of the northeast of the country probably contributed to the disappointing data, as freezing conditions kept customers away from malls and high streets.
However, online sales grew 2.2 per cent on the month, according to the retail report, suggesting households were willing to spend at home… (more)
