Summary
This report from PNC Economics Research details the retail sales performance for February 2026, highlighting a 0.6% increase in retail sales from January, with core sales rising by 0.4%. Year-over-year, total retail sales grew by 3.7%, marking the strongest growth since September 2025. The report outlines mixed drivers for consumer spending, noting that higher gasoline prices due to geopolitical tensions are expected to negatively impact core and control sales in March. It also mentions that while job and wage growth have softened, higher-income consumers have benefitted from strong wage growth and high stock prices. The report anticipates modest growth in consumer spending for the remainder of 2026, despite potential risks from ongoing conflicts and a softening labor market. Specific sales performance across various sectors, including motor vehicles and parts, drug stores, and clothing stores, is also documented, providing a comprehensive view of the retail landscape during this period.
