US retail sales dipped 0.1% in February

The official data released in the US showed retail sales in the US dropped in February, signaling spending may not remain resilient to stock market volatility and global headwinds.

The headline figure bettered estimate of -0.2% to print at 0.1%. Previous month’s figure was revised lower to -0.4% from the initially report figure of 0.2%.

Core retail sales were flat on the month compared with January, whose 0.6% figure was revised down to 0.2%.

Retail sales represent only 25% of the total consumer spending in the US, but nevertheless indicate weakness in consumption.