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Retail rises slightly in week

Feb. 26, 2013 at 11:45 AM   |   Comments

WASHINGTON, Feb. 26 (UPI) -- U.S. retail receipts rose marginally in the week ending Saturday, a trade group in Washington said.

The International Council of Shopping Centers-Goldman Sachs weekly sales report said sales rose 0.1 percent over the previous week and 2.9 percent over the same week of 2012.

Sales were hampered by weather that was "unfavorable for spring seasonal items," the trade group said.

Temperatures averaged 3.3 degrees Fahrenheit colder than the same week a year earlier and 3 degrees colder than the historic average for the week, Weather Trends International said.

Rising gasoline prices are also cutting into discretionary spending. The national average price for a gallon of gasoline rose 3.7 cents in the week to an average of $3.784 per gallon Monday.

Over the past 10 weeks, prices for gasoline have risen, on average, "a hefty 53 cents," the report said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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