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VDC - Drop In February Retail Sales Suggests Weak First Quarter
Vanguard Consumer Staples
By Robert Hughes
Retail sales and food services spending fell 0.2 percent in February following a 0.7 percent gain in January. Excluding the volatile auto and energy categories, core retail sales and food services were down 0.6 percent in February after a gain of 1.7 percent in January. Over the past year, total retail sales and food services were up 2.2 percent through February, while core retail sales and food services have increased 2.9 percent. Gains in the 2-3 percent range were typical in 2015 and 2016 but are well below the 4-6 percent range