In a positive turn of events, the core retail sales in the United States experienced a rebound in February 2024 after a decline in the previous month. According to the latest data released on 14th March 2024, the core retail sales indicator stopped at 0.3%, showing a significant improvement from the -0.6% recorded in January 2024.
The core retail sales indicator measures the total value of sales at the retail level in the US, excluding automobiles and gasoline, providing a key insight into consumer spending trends. The month-over-month comparison highlights the recovery in consumer activity, indicating a more positive outlook for the US economy as consumer confidence improves. This uptick in core retail sales could have a ripple effect on other sectors, boosting overall economic growth in the coming months.
