Minneapolis CNN —
Americans pulled back on their spending last month after a surprisingly spendy January.
US retail sales fell 0.4% in February from the month before, which was revised up to 3.3%, the Department of Commerce reported on Wednesday.
That decline, which was adjusted for seasonal swings, was greater than economists’ expectations of a 0.3% decline, according to Refinitiv estimates.
Retail sales data is not adjusted for inflation.
This story is developing and will be updated.