Digital Transformation Slows Down the Global Economy
U.S. Retail Sales Changes February 2023
By Shubhendra Anand , 07 April, 2023
U.S. releases every month’s calculation of the retail sales. In this report, the results are based on the core retail segments excluding the food, fuel and auto using year-over-year comparisons.
There is a rise of 7.7 percent year in the retail sales category with e-commerce up to 8.5 percent according to the numbers released by the United States Department of Commerce. As per the data, February always tends to be the slowest month for retail sales but this time it led to the fairly steady growth in employment.
According to the Global Data Managing Director Neil Saunders, “the consumers would continue to dig deep into the fund consumption and showing resilience despite unfavorable conditions.” Inflation remained high in the February 2023 that is 6 percent.
Reports reveals that sales slid from 1.1 percent from January 2023 due to extreme weather conditions in many part of the countries and strong sales in the first weeks of the year.
According to the data reports, general merchandise sales rose 10.7 percent, apparel sales rose up to 4.1 percent, home goods and furniture sales edged up 0.4 percent, sporting goods also rose up to 3.4 percent and the electronic sales continued to falling 2.2 percent.Key Retail Statistics You Should Know
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