clear
Tuesday December 18th, 2018 4:32PM

February retail sales fall 0.1 pct; few signs of tax bump

By The Associated Press
Related Articles
  Contact Editor

WASHINGTON (AP) — U.S. consumers spent less at auto dealers, gas stations and department stores in February, causing overall retail sales to slip 0.1 percent.

The Commerce Department said Wednesday that sales have declined for the past three months, but they're still 4 percent higher from a year ago. Shoppers have opened 2018 with a cold spell after robust spending gains in the months leading up to the holidays.

So far, the promise of higher take-home pay from President Donald Trump's tax cuts appears to have had little influence on spending for big ticket items such as autos.

Consumers have also continued migrating to online outlets such as Amazon and away from traditional department stores, dampening overall sales as the competition to charge the lowest price has increased. Retail sales are increasingly influenced by the aging of the baby boomer generation, who tend to spend less after retirement.

Auto sales fell 0.9 percent last month, while purchases at gas stations tumbled 1.2 percent. Sales at department stores declined 0.9 percent.

But spending at online and catalog retailers climbed, as did spending at building materials stores, restaurants and clothiers to offset much of the decline elsewhere.

The sales decline seems to contradict some of the optimism among retailers, which added a healthy 50,300 jobs in February, according to the Labor Department's jobs report.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Business - Economy, AP Business - Industries, AP Business - Utilities
© Copyright 2018 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
The Latest: UK expelling 23 Russian diplomats over spy spat
The Kremlin says Russia rejects the deadline that Britain gave it to explain any involvement in the poisoning of an ex-Russian spy
8:59AM ( 14 minutes ago )
February retail sales fall 0.1 pct; few signs of tax bump
US retail sales slipped 0.1 percent in February; fewer sales at auto dealers and gas stations
8:51AM ( 22 minutes ago )
Greek soccer faces FIFA expulsion because of violence
A FIFA representative says Greece could be expelled from international soccer competitions because of widespread violence
8:51AM ( 22 minutes ago )
Associated Press (AP)
US wholesale prices rose 0.2 percent in February
US wholesale prices rose 0.2 percent in February; energy and food prices fall
8:34AM ( 39 minutes ago )
US retail sales fell 0.1 percent in February
US retail sales slipped 0.1 percent in February; fewer sales at auto dealers and gas stations
8:33AM ( 41 minutes ago )
EU questions Trump's tariffs as it hopes to be exempt
The European Union's trade chief is questioning the rationale of U.S. President Donald Trump to threaten imposing tariffs on EU exports of steel and aluminum and says his move is undermining longstanding trans-Atlantic ties
7:36AM ( 1 hour ago )
AP Business
Cathay Pacific Airways loss doubles on intense competition
Hong Kong airline Cathay Pacific says annual loss more than doubles because of relentless competition from rival carriers and rising fuel costs
2:42AM ( 6 hours ago )
Chinese stock regulators levy $870M fine in scandal
Chinese regulators have fined a company a record $870 million for manipulating stock prices in the latest scandal to roil the country's financial markets
1:44AM ( 7 hours ago )
Attention turns to affiliations of mosque-bombing suspects
Why three men allegedly chose to travel some 500 miles from a rural farming community in Illinois to bomb a specific mosque in suburban Minneapolis isn't clear. Attention now turns to their affiliations.
1:17AM ( 7 hours ago )
AP Business - Corporate News
Asian shares tumble after Tillerson exit, Wall Street drop
Asian shares are falling, taking their cue from a dip on Wall Street following the abrupt departure of U.S. Secretary of State Rex Tillerson
2:57AM ( 6 hours ago )
Trump's visit to California sparks protests, rallies
Smattering of peaceful protests greet president's first visit to California border
2:48AM ( 6 hours ago )
Smattering of peaceful protests greet Trump at border
Smattering of peaceful protests greet president's first visit to California border
9:12PM ( 12 hours ago )
AP Business - Economy
Zinke defends plan to raise park fees amid flap over travel
Interior Secretary Ryan Zinke bristles under questioning about his spending on travel as the Trump administration seeks deep cuts to conservation programs and fee increases at national parks.
7:19PM ( 13 hours ago )
US may want to keep Idaho nuclear waste plant running longer
U.S. officials are considering extending the use of a nuclear waste treatment facility in eastern Idaho beyond its scheduled closure this year so it can repackage radioactive waste brought in from other states
4:25PM ( 16 hours ago )
Southeast Asian ride-hailing app Grab expands into lending
Southeast Asian ride hailing app Grab said it is expanding into financial services in partnership with a Japanese credit card company, hoping to offer credit to millions of people without bank accounts
5:35AM ( 1 day ago )
AP Business - Industries
Trump: 'Steel and business' at stake in House election
President Donald Trump is invoking "steel and business" as he and his son make a final push to sway Pennsylvania voters in a special House election.
1:05PM ( 1 day ago )
In tight House race, Republican leans on Trump and his base
President Donald Trump is invoking "steel and business" as he and his son make a final push to sway voters in a special election for a Pennsylvania House seat.
12:14PM ( 1 day ago )
APNewsBreak: Trump Jr., donor have longtime undisclosed ties
Records show Donald Trump Jr. and a hedge fund manager who helped raise millions for the Trump campaign have a business relationship that hasn't been disclosed
11:57AM ( 1 day ago )
AP Business - Utilities
The Latest: UK expelling 23 Russian diplomats over spy spat
The Kremlin says Russia rejects the deadline that Britain gave it to explain any involvement in the poisoning of an ex-Russian spy
8:59AM ( 14 minutes ago )
Greek soccer faces FIFA expulsion because of violence
A FIFA representative says Greece could be expelled from international soccer competitions because of widespread violence
8:51AM ( 22 minutes ago )
2 dozen sick civilians leave Syrian rebel enclave amid siege
2 dozen sick civilians evacuated from Syria's besieged enclave near Damascus amid government offensive
8:47AM ( 27 minutes ago )
US wholesale prices rise 0.2 percent in February
US wholesale prices rise 0.2 percent in February; energy and food prices fall
8:46AM ( 27 minutes ago )
The Latest: Russia rebukes UK 'provocation' over spy case
The Kremlin says Russia rejects the deadline that Britain gave it to explain any involvement in the poisoning of an ex-Russian spy
8:43AM ( 30 minutes ago )