According to data updated on March 14, 2024, US retail sales excluding gas and autos increased by 0.3% in February 2024 compared to the previous month. This positive change follows a slight decrease of 0.5% in January 2024. The comparison, done on a month-over-month basis, indicates an improvement in consumer spending in the United States.
The rise in retail sales excluding gas and autos is a positive sign for the US economy, as consumer spending plays a significant role in driving economic growth. With this uptick in spending, analysts are hopeful that the trend will continue and contribute to overall economic stability and expansion in the coming months. This data provides insights into the current state of consumer confidence and their willingness to make purchases, which are essential factors in evaluating the health of the economy.
