U.S. retail sales in February grew steadily, with oil prices becoming a hidden concern

MeNews · 2026-04-08T10:57:55+00:00

U.S. retail sales in February increased by 0.6% driven by a rebound in automobiles, exceeding expectations. However, future consumption may be subdued due to soaring gasoline prices caused by the Middle East conflict. Core retail sales grew by 0.5%, reflecting the impact of consumer spending on the economy.

MeNews

2026-04-08 10:57:55

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ME News update. On April 1 (UTC+8), data released by the U.S. Department of Commerce on Wednesday showed that February retail sales rose by more than expected, supported by broad-based growth, including a rebound in auto purchases. However, the Middle East war has sent gasoline prices soaring, which may curb consumption over the coming months. Retail sales not adjusted for inflation increased 0.6% in February after a slight decline in January. The U.S.-Iran war has pushed global oil prices up by more than 50%, with the U.S. national average retail gas price rising to above $4 per gallon for the first time in more than three years. The market is concerned that if gasoline prices keep rising, they could offset some of the boost to consumer spending and the overall economy from tax relief. Excluding autos, gasoline, building materials, and food services, retail sales rose 0.5% in February, after increasing 0.2% in January. This so-called “core retail sales” is most closely aligned with the consumer spending component of GDP. Consumer spending slowed in the fourth quarter of last year, dragging down the GDP annualized growth rate to 0.7%; (Jin10) (Source: ODAILY)

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