We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
Home » Retail sales drop slightly in February, but long-term outlook stays strong
newsworthy

Retail sales drop slightly in February, but long-term outlook stays strong

April 1, 2019
DC Velocity Staff
No Comments

Retail sales dropped 0.7 percent in February from January, but were up 2.7 percent compared to last year's figures and are on track to ride strong fundamentals of job and wage growth in the coming months, the National Retail Federation (NRF) said today.

Precise comparisons of sales statistics are difficult to make because of delays and revisions of economic data related to the federal government shutdown in December and January, the group said.

As of February, the three-month moving average was up 2.2 percent over the same period a year ago, according to the NRF. February's results build on improvement seen in January, which was up 1.9 percent monthly and 4.8 percent year-over-year, according to revised data released today. January had originally been reported as a 1.3 percent increase over December and up 3.6 percent year-over-year.

The NRF says its numbers are based on data from the U.S. Census Bureau, which reported today that overall February sales - including auto dealers, gas stations and restaurants - were down 0.2 percent seasonally adjusted from January but up 2.2 percent unadjusted year-over-year. The release of retail sales data for December, January and February has been delayed as the Bureau works through a backlog caused by the government shutdown earlier this year, the NRF said.

Another effect of the shutdown is that the Internal Revenue Service (IRS) has been slow in issuing refund checks, which traditionally help drive spending in the early months of each year, the NRF said. Despite those impacts, the NRF is forecasting that retail sales during 2019 will increase between 3.8 percent and 4.4 percent to more than $3.8 trillion.

"The weaker-than-expected February retail sales numbers reflect colder weather and increased precipitation that kept shoppers home but were also skewed downward because of the government's upward revision in January's results," NRF Chief Economist Jack Kleinhenz said in a release. "The after-effects of the erratic stock market, the government shutdown, and slower tax refunds this year also likely played a role. It is important to look beyond the February figures and focus on the very significant revision to January retail sales, which shows that the consumer has not forsaken the economy as some previously claimed."

Instead, Kleinhenz said the NRF expects growth to pick up, fueled by strong fundamentals like job and wage growth that are driving increased consumer spending for the U.S. economy in the months ahead.

Supply Chain Services Publications & Associations Business Management & Finance
KEYWORDS National Retail Federation
  • Related Articles

    Covid-19 crisis pushes March retail sales to biggest monthly drop ever

    Demand for inventory, e-commerce fuels long-term outlook for logistics real estate

  • Related Events

    Digital Transformation in Supply Chain & Logistics

Recent Articles by DC Velocity Staff

ATA cheers court ruling upholding looser hours of service caps

Carry (or at least measure) that weight

December cargo volume up in Houston, Oakland

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Cold chain giant Lineage Logistics buys its own rail operator

  • Autonomous trucking firm Plus prepares its tech for mass launch in China in 2021

  • The Home Depot opens automated DC in greater Atlanta

  • For container lines and ports, what a difference a year makes

  • Outlook 2021: What’s in store for logistics supply chain?

Now Playing on DCV-TV

Jlt procure rugged devices thumb

What it takes to procure the right rugged devices for your warehouse

DCV-TV 4: Viewer Contributed
Procuring new rugged devices for your warehouse is often a big decision and a significant investment. It needs careful planning and consideration. It involves more than ticking boxes on a spec sheet. It includes testing and getting employee buy in. And it's about finding a partner that can work with you to deploy...

FEATURED WHITE PAPERS

  • Proven Benefits: A Compendium of Slotting Optimization Success Snapshots

  • Bridging Information Gaps in Dock and Yard Operations

  • How Intelligent Sensor Solutions Turn Data Into Action

  • Order picking Solutions: Understanding Your Options

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing