Retails sales rebounded in February after seeing their steepest decline in nearly a year during the month prior.
Retail sales rose 0.6% in February from the previous month, according to Census Bureau data. Economists had expected a 0.8% increase in spending, according to Bloomberg data. January retail sales previously posted a surprise -1.1% decrease.
February sales, excluding auto and gas, increased by 0.3%, in line with estimates.
Building materials and garden equipment led the gains, rising 2.2%. Sales gained 1.6% at motor vehicle and parts dealers while electronics and appliance stores added 1.5%.
The check on the consumer comes as the economy has largely remained on solid footing to start 2024. Consensus projections for economic growth in the first quarter have moved higher while the labor market has continued to add more jobs than previously expected.
Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer.
Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance
