February Retail Sales Drop 1.3%; Drop Is First in Six Months

ebruary retail sales fell 1.3%, the first drop in six months, the Commerce Department reported Tuesday.

ales fell to $362.3 billion, and were down 0.4% excluding automobiles, Commerce said.

January’s revised figure showed a 2.9% gain, which was the biggest rise since October 2001. January’s sales had originally been reported as a 2.3% increase.

Economists had estimated a 0.8% drop for February, Bloomberg reported.

Almost all trucking operations depend on the health of retail sales because such sales involve nearly every type of cargo.

Retail sales account for almost half of all consumer spending, which accounts for about two-thirds of the economy.