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U.S. Retail Sales Rise 6.9% YoY in February, Reports Mastercard SpendingPulse March 21, 2023 (0 comments)

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New York, NY--Mastercard SpendingPulse reported a 6.9% year-on-year increase in U.S. retail sales (excluding automotive) for February in a news release. The data represents in-store and online sales across all payment types and is not adjusted for inflation.

[Image via Mastercard]

Steve Sadove, Mastercard Senior Advisor, commented in the news release that consumer spending had returned to a healthy balance after the holiday season, with customers prioritizing discounts to counteract inflation.

Key trends in February included:

Michelle Meyer, North America Chief Economist at Mastercard Economics Institute, noted in the release that retail spending maintained a steady growth rate compared to 2022, supported by a robust labor market and savings cushion.

*Note: Airlines and Lodging are not included in total retail sales figures.

Learn more in this news release.

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