[Stay on top of transportation news: Get TTNews in your inbox.]
Retail Sales Rise by Most in Five Months
Retail sales rose 1.1% in February, the largest increase in five months, the Commerce Department said Wednesday.
The increase followed a 0.2% gain in January that was higher than previously reported.
The February increase exceeded economists’ median forecast of a 0.5% rise, Bloomberg News reported.
Eight of 13 major categories showed increases, led by a 5% gain at gasoline stations.
Demand at auto dealers rose 1.1% from the prior month, while sales excluding automobiles, gasoline and building materials rose 0.4%, Bloomberg said.
