On a m-o-m seasonally adjusted basis, total retail sales in February grew by 3.9% to $3.6 billion and 2.0% to $3.1 billion excluding motor vehicles.
Retail sales grew by 12.7% y-o-y in February, reversing the 0.8% y-o-y decline printed in January. The figure was the highest print on a y-o-y basis since August 2022 and surpassed market watchers’ expectations.
Excluding motor vehicles, February’s retail sales grew by 11.7% y-o-y.
