After reporting a substantial rebound in U.S. retail sales in the previous month, the Commerce Department released a report on Wednesday showing a modest increase in retail sales in the month of February.
The Commerce Department said retail sales rose by 0.3 percent in February after soaring by an upwardly revised 4.9 percent in January.
Economists had expected retail sales to increase by 0.4 percent compared to the 3.8 percent spike originally reported for the previous month.
Excluding sales by motor vehicle and parts dealers, retail sales edged up by 0.2 percent in February after surging by 4.4 percent in January. Ex-auto sales were expected to advance by 0.9 percent.