Americans now have a total of over $1.3 trillion in credit card debt. But February’s retail data shows there are no signs the consumer is slowing its spending.
The National Retail Federation says total retail sales, excluding automobiles and gasoline, were up 1.06% seasonally adjusted month over month and up 6.3% unadjusted over last year.
The Retail Monitor calculation of core retail sales—excluding restaurants, autos, and gas—was up 0.95% month over month and 6.69% year over year in February.
February sales were up year over year, led by online sales, sporting goods stores, and health and personal care stores.
Online and other non-store sales were up 0.8% month over month and up 18.08% year over year unadjusted.
Sporting goods, hobby, music, and bookstores were up 2.29% month over month seasonally adjusted and up 13.67% year over year unadjusted.
Health and personal care stores were up 0.96% month over month, seasonally adjusted, and up 11.18% year over year unadjusted.
Clothing and accessories stores were up 0.51% month over month and up 8.05% year over year unadjusted.
Grocery and beverage stores were up 0.99% monthly and up 5.29% yearly unadjusted.
General merchandise stores were up 0.67% month over month seasonally adjusted and up 3.34% year over year unadjusted.
Building and garden supply stores were up 0.01% month over month and up 2.84% year over year unadjusted.
Electronics and appliance stores were up 0.76% month over month, seasonally adjusted, and up 1.12% year over year unadjusted.
Furniture and home furnishings stores were up 0.45% month over month, seasonally adjusted but down 1.56% year over year unadjusted.
