business news in context, analysis with attitude

From the Wall Street Journal:

"U.S. retailers and manufacturers slumped in February due to winter storms and supply-chain disruptions, but a broader economic rebound appears poised to accelerate this spring because of the easing pandemic and another round of government stimulus.

"Retail sales - a measure of purchases at stores, at restaurants and online - fell by 3% in February compared with the prior month, the Commerce Department said Tuesday. The decline followed robust January sales that were propelled by stimulus payments to households from the December pandemic-relief package.

"January sales advanced a revised 7.6%, up from the earlier estimate of a 5.3% increase."

February's retail sales were hit by a double whammy - not only is the month generally a soft one for retail sales, but severe winter storms in much of the country created significant problems for many retailers.