KBRA Releases Research – Coronavirus (COVID-19): Retail Sales Softened in February, but No Cause for Alarm: YoY Growth Strong
NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases research on trends in February 2021 retail sales.
U.S. retail sales declined 3% month-over-month (MoM) in February, following a much anticipated January surge due to renewed federal stimulus under the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. But the U.S. Census Bureau’s Advance Retail Sales report published on March 16 was not all unwelcome news. According to the U.S. Census Bureau, February’s 6.3% year-over-year (YoY) sales increase marks uninterrupted same month YoY growth since May 2020. Estimated January 2021 performance was also revised upward, to 7.6% MoM and 9.5% YoY growth, coinciding with the receipt of individual $600 stimulus checks through mid-January. Additionally, revised January and February YoY growth was the strongest observed in the last 14 months. In this KBRA report, we examine the latest trends in February retail sales data and what to look for in the coming months.
Click here to view the report.
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KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
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