IE Business Daily Business news for the Inland Empire.
Growing fears about tariffs caused retail spending to decline slightly between January and February, according to the National Retail Federation.
Total retail sales, not counting automobile sales and gasoline, fell 0.22 percent between the first and second month of 2025, but rose 3.8 percent year-over-year, the trade association in Washington, D.C. reported.
The month-over-month numbers were seasonally adjusted, the January-to-January numbers were not. The economic growth between the start of 2024 and the start of this year shows the economy remains strong despite some bumps in the road.
“Consumer spending dipped slightly again in February due to the combination of harsh winter weather and declining consumer confidence driven by tariffs, concerns about rising unemployment and policy uncertainty,” Matthew Shay, the federation’s president and chief executive officer, said in a statement. “Unease about inflation and paying higher prices for non-discretionary goods has consumers spending less and saving more.
“For the moment, year-over-year gains reflect an economy with strong fundamentals.”
