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Retail Sales in U.S. Unexpectedly Fall for Third Straight Month

From bloomberg.com

Sales at U.S. retailers unexpectedly decreased in February for a third consecutive month as inclement weather and low wage gains restrained shoppers. The 0.6 percent drop followed a 0.8 percent decrease in January, Commerce Department figures showed Thursday in Washington. The median forecast of 86 economists surveyed by Bloomberg called for a 0.3 percent gain. Sales declined in nine of thirteen major categories, led by auto dealers and building supply merchants. The coldest February on record in parts of the Northeast and Midwest, combined with sluggish pay increases, probably made Americans leery of spending the ... (full story)

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