Retail Sales Disappoint In February, Despite Major Downward Revisions

March 17, 2025

Retail Sales Disappoint In February, Despite Major Downward Revisions

After the colossal disappointment last month (which BofA’s omniscient analysts forewarned), February’s consensus expects a considerable rebound in retail sales (though BofA’s team – once again – are more downbeat)…

BofA retail sales preview based on real-time card spending data: not pretty pic.twitter.com/avlFVTHDe0

— zerohedge (@zerohedge) March 17, 2025

Following last month’s 0.9% MoM plunge, which was revised down a 1.2% MoM drop, February saw retail sales disappoint (rising just 0.2% MoM vs +0.6% MoM exp)…

Source: Bloomberg

Food Services & Gas Stations saw the biggest drop in nominal sales…

Biggest drop in food services spending in two years…

Core retail sales met expectations (+0.3% MoM) but also saw downward revisions…

Source: Bloomberg

On a non-seasonally-adjusted basis, retail sales are actually down YoY…

Source: Bloomberg

Adjusted roughly for inflation,. real retail sales is basically flat year-over-year…

Source: Bloomberg

Finally, on the bright side, Retail Sales Control Group – which is used for GDP calculations – surged 1.0% MoM in February (more than double the 0.4% rise expected), after puking a revised lower 1.0% MoM in January…

Source: Bloomberg

So, while headline sentiment may be weak, this is a solid report for signaling economic growth.

Trump learning from Biden: January revised much lower, means lower base and can beat estimates

— zerohedge (@zerohedge) March 17, 2025

Tyler Durden
Mon, 03/17/2025 – 08:38

https://www.zerohedge.com/personal-finance/retail-sales-disappoint-february-despite-major-downward-revisions

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