HomeFinance NewsEconomyShoppers Unleash Spending Spree: Retail Revolutionizes Post-Pandemic

Shoppers Unleash Spending Spree: Retail Revolutionizes Post-Pandemic


Consumer spending rebounded in February, according to the CNBC/NRF Retail Monitor


After a decline in January, consumer spending rebounded in February, boosted by the extra day of the leap year.

The CNBC/NRF Retail Monitor, which measures credit and debit card spending, revealed a 1.06% increase in February, excluding automobiles and gasoline.

Even after adjusting for the additional spending day, sales still increased by a solid 0.4%, indicating a continuing trend of consumer spending growth.

Online sales continue to thrive, registering an 18.08% year-over-year increase.

Specialty sectors like sporting goods, hobby stores, and health and personal care also performed well.

However, economists caution that the leap day may have had an impact on the data, and the Census Bureau report, an alternative measure of retail sales, may differ significantly this month.

Despite the uncertainty surrounding the Federal Reserve’s interest rate policy and inflation, a robust job market and wage growth continue to support consumer spending.

The CNBC/NRF Retail Monitor for February, alongside positive forecasts for the Census retail report, suggests that the recent slowdown in consumer spending may not be sustained.

Overall, consumer spending remains resilient, buoyed by strong employment and real wage gains.

However, the impact of a leap year and other unpredictable factors may influence the economic outlook in the months ahead.

  • Overall sentiment: positive
  • Positive

    “Consumer spending bounced back in February from a January dip, with a little help from leap day.”

    “Sales still registered good gains even after correcting for that extra spending day.”

    “Online and other nonstore sales were up 0.8% month over month seasonally adjusted and up 18.08% year over year.”

    “Sporting goods, hobby, music and bookstores were up 2.29% month over month seasonally adjusted and up 13.67% year over year.”


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