Retail sales unexpectedly showed a modest increase in the month of February, according to a report released by the Commerce Department on Friday, with the unexpected growth partly due to a jump in sales by electronics and appliance stores.
The report showed that retail sales rose by 0.3 percent in February following a downwardly revised 0.1 percent increase in January. The sales growth came as a surprise to economists, who had expected sales to edge down by 0.2 percent compared to the 0.5 percent growth originally reported for the previous month.
Excluding a 2.0 percent drop in sales by motor vehicle and parts dealers, sales increased by a somewhat more substantial 0.8 percent in February compared to a 0.5 percent increase in the previous month. Economists had expected ex-auto sales to edge up by 0.1 percent.
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