WASHINGTON-Retail industry sales for February, which exclude automobiles, gas stations and restaurants, rose 0.6 percent seasonally adjusted from January and decreased 5.0 percent unadjusted over last year, the National Retail Federation reported, citing U.S. Commerce Department figures released today.
February retail sales decreased 12.3 percent unadjusted year-over-year and 0.1 percent seasonally adjusted month-to-month, the NRF said.
“While we are seeing some growth in consumer spending, it remains to be seen whether this trend will continue,” said Rosalind Wells, NRF chief economist, in a statement. Due to the economic climate, the NRF is still projecting year-over-year sales decreases through the first half of the year with a slight turnaround at the end of 2009, Wells said.