Subtitles section Play video Print subtitles US retail sales took a nosedive in February as harsh winter weather gripped several parts of the country and consumers waited for another round of economic stimulus. Sales tumbled 3% last month, according to data released Tuesday from the Commerce Department. The unusual snow storm that battered the South knocking out power across Texas was largely blamed for the much bigger than expected drop. Sales were down across the board on a month to month basis, with the biggest declines seen in department stores, sporting goods and other recreational outlets. Even online sales took a hit. But economists expect February's weakness to be short lived now that most consumers are getting $1400 checks as part of the $1.9 trillion stimulus package signed last week by President Biden. Add to that the extension of $300 in extra government benefits for the unemployed and the rollout of vaccines. Bank rates Ted Rossman. I do think that soon with more stimulus, more health improvements and warmer weather, I think things will be looking a lot better in March and beyond. Getting consumers out and about is key to any economic rebound since consumer spending powers two thirds of all U. S.
B1 stimulus february retail month winter department U.S. February retail sales slammed by winter weather 17 0 林宜悉 posted on 2021/03/16 More Share Save Report Video vocabulary