US retail sales picked up sharply in February, driven by a surge in gasoline prices, government data released Wednesday showed.
Retail and food services sales rose 1.1 percent from January, the Commerce Department reported, much stronger than the 0.5 percent increase estimated by analysts.
The department revised upward the January increase in retail sales to 0.2 percent.
Year-over-year, retail sales grew 4.6 percent.
Gasoline sales at the pump jumped 5.0 percent in February, after a 3.6 percent rise, according to data adjusted for seasonal and holiday variations but not for prices.
Retail sales excluding autos rose 1.0 percent, double the gain expected.
The February numbers came despite consumers’ smaller paychecks after the January 1 expiration of a payroll tax cut.
The report suggested resiliency in consumer spending, which accounts for 70 percent of US economic activity.
The growth came despite political gridlock over budget deficit reductions and a looming government shutdown if a compromise is not reached.
Consumers pulled back spending in February on furniture and home furnishings and in department stores, sporting goods, book and music stores; and restaurants and bars.
Online shopping rose 1.6 percent.
US retail sales surge 1.1% in February
