U.S. retail sales in February rose less than expected, and uncertainty led to low consumer confidence

On March 17, US retail sales for February rose on a monthly basis, but fell below expectations, with the month-on-month decline in January sales revised from 0.9% to 1.2%. The report shows that out of 13 categories, only 5 categories saw a rise in sales in February compared to January: non-store retailers (representing e-commerce), general merchandise, health and personal care, food and beverages, and building materials. These categories tend to be necessities rather than non-essentials, so the rise in these areas indicates that consumers were cautious about their spending last month. Retailers warn that February started off weak due to cold weather, delayed tax refunds, and increasing consumer uncertainty about the economy. Since January this year, consumer confidence has declined for three consecutive months as Americans try to cope with the Trump administration's constantly changing policies, including intermittent tariffs and widespread federal layoffs.(金十)