US records solid retail sales after bad weather slowdown, but first quarter may be the best

What should have been a promising first quarter for consumer spending is more fraught due to the US-Iran war, writes KPMG US Senior Economist Ken Kim.

United States (US) February retail sales increased 0.6 percent, slightly above expectations for a 0.5 percent rise. Excluding autos, retail sales advanced by a solid 0.5 percent, surpassing the consensus estimate of 0.3 percent. Early tax refunds and a return to more seasonable weather encouraged shoppers to open their wallets.  Sales at motor vehicles and parts dealers rose 1.2 percent after plunging 1.7 percent in January. Light veh...

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Authors: Kenneth Kim

Published Date: 02 April 2026