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

MeNews · 2026-04-08T05:40:42+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 05:40:42

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

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