""While the overall numbers are good and suggest a continued trajectory of reasonable expansion for retail, they do not reflect the problems that have arisen since the start of the Iran conflict," wrote Neil Saunders, managing director of GlobalData."
""Since the start of March our own numbers show that consumer sentiment has soured and that rising gas prices are starting to spook consumers.""
""This was a solid report," Ksenia Bushmeneva, economist at TD Bank Group, wrote in a report published on Wednesday."
""Higher gas prices at the pump will likely lift overall sales in March since the government retail sales figures are not adjusted for inflation.""
Retail sales increased by 0.6% in February, rebounding from a 0.1% decline in January. Analysts noted that while the numbers are promising, the ongoing conflict in Iran has affected consumer sentiment. Gas prices have surged, with the average price for a gallon exceeding $4 for the first time since 2022. Sales in various sectors, including motor vehicles, clothing, and online retail, showed growth. However, the impact of rising gas prices on future spending remains a concern.
Read at Fortune
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