Retail sales in the United States grew 3.7% in February 2017 compared to the same period last year, higher than the forecasted 2.7% growth. While the increase was the smallest in six months, January's core retail sales were revised upward to a 1.2% gain. Most retailers reported weak February sales despite warm weather, likely due to delayed tax refunds reducing household spending. More states are targeting online retailers to collect sales tax in efforts to offset lost revenue from e-commerce sales.

1. Retail Sales – United States –
February 2017
By: Paul Young CPA, CGA

2. Agenda
• Global Forecast
• Summary
• Major Segments / Comments
• % change by month
• Sales Tax / eCommerce

3. Forecast / Global
Source - ScotiaBank – March 10, 2017
Source – USA Government – March 15, 2017
• Feb-January 2017 average 3.7% growth year
over year compare to Jan-Feb 2016
• Feb-January 2017 growth of 3.7% is higher
than the 2.7% forecasted by Scotiabank

4. Summary / February 2017b
Source – United States Government

5. February 2017 – Retail Sales by Segment
Source - USA Government
US Retail Sales in February post smallest
gain in six-months – Bloomberg March 15,
2017
But notably, January's core retail sales were
upwardly revised to a 1.2% increase, up from
the prior reading of 0.8%. Business Inside –
March 15, 2017
Most U.S. retailers reported weak sales in
February despite unseasonably warm
weather, a likely offshoot of delayed tax
refunds for millions of households.
Market Watch – March 15, 2017

6. Retail Sales change by month
Marketwatch – March 14, 2017

7. BMO/USA Retail Sales
BMO Economics – March 15, 2017

8. Sales Tax Changes / New Mexico / Amazon
• http://www.cnbc.com/2017/03/06/the-associated-press-amazon-to-collect-sales-tax-in-new-mexico-
starting-in-april.html
More States are targeting
eCommerce retailers (lack of
Nexus)