Retail sales have been strong in recent months. Total retail sales increased at an annual rate of 7.3 percent over the three-month period ending February 2013.

Core retail sales—which exclude gasoline stations, motor vehicle parts and dealers, and building materials—also increased over this same period, growing at an annual rate of 4.8 percent.

U.S. Retail Sales Components, December 2012 to February 2013, annualized percent change, SA

Additional detail:

  • The increase in retail sales from December to February was broad-based.
  • Increases in gasoline prices accounted for some of the uptick in spending at gasoline stations, but even after excluding gasoline stations, retail sales increased at an annual rate of 6.1 percent over the three-month period.
  • Retail sales are adjusted for seasonal variation, holidays, and the number of days in a month, but not inflation.