US Retail Spending Dropped 0.5 Pct. In Feb.

As consumer spending started to decelerate prior to COVID-19 containment measures, U.S. retail sales declined last month in the biggest drop in a year. Commerce Department data indicated that the value of overall sales decreased 0.5 percent from the month before following a 0.6 percent rise in January, Bloomberg reported. The median projection in a survey had forecasted an increase of 0.2 percent.
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