US Retail and Food Services Sales Experience Growth in February

In a recent update from the US Census Bureau, seasonally adjusted advance estimates indicate a 0.2% increase in retail and food services sales for February, reaching a total of $722.7 billion. This marks a 3.1% rise compared to the same month last year.

Over the quarter ending in February, total sales saw a 3.8% increase from the previous year, showcasing a steady growth in the sector.

Breaking down the figures, retail trade sales enjoyed a 0.5% monthly boost and a 4.2% annual increase. Notably, food and beverage stores reported a 3.9% year-over-year growth, while nonstore retailers surged ahead with a 6.5% increase.