U.S. retail sales in February grew steadily, with oil prices becoming a hidden concern

MeNews · 2026-04-08T07:34:42+00:00

ME News Report, April 1 (UTC+8): Data released by the U.S. Department of Commerce on Wednesday show that retail sales in February exceeded expectations, driven by broad growth including a rebound in auto purchases. However, the Middle East conflict has caused gasoline prices to surge, which may suppress consumption in the coming months. Unadjusted for inflation, retail sales declined slightly in January but increased by 0.6% in February. The war between the U.S. and Israel against Iran has pushed global oil prices up by over 50%, with the national average gasoline price rising above $4 per gallon for the first time in over three years. Market concerns suggest that if gasoline prices continue to rise, they could offset some of the boost to consumer spending and the overall economy from tax cuts. Excluding autos, gasoline, building materials, and food services, retail sales grew by 0.5% in February, following a 0.2% increase in January. This so-called "core retail sales" are closely linked to GDP growth.

MeNews

2026-04-08 07:34:42

ME News update, April 1 (UTC+8). Data released by the U.S. Department of Commerce on Wednesday showed that February retail sales rose by more than expected, driven by broad-based gains that included a rebound in auto purchases. But the Middle East war has pushed gasoline prices sharply higher, which could dampen consumption over the coming months. Retail sales not adjusted for inflation fell slightly in January, then grew 0.6% in February. The U.S.-led conflict with Iran has pushed global oil prices up by more than 50%, and the nationwide average retail gasoline price has risen to above $4 per gallon, the first time in more than three years. Markets are concerned that if gasoline prices continue to climb, they may offset some of the boost to consumer spending and the overall economy from the tax relief. Retail sales excluding autos, gasoline, building materials, and food services rose 0.5% in February, after increasing 0.2% in January. This so-called “core retail sales” is most closely aligned with the consumption component of GDP. Consumption spending slowed in the fourth quarter of last year, dragging the GDP annualized growth rate down to 0.7%; (Jin10) (Source: ODAILY)

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