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Americans pulled back on their spending in February, after a strong January

Americans pulled back on their spending last month after a surprisingly spendy January.

Posted — Updated

By
Alicia Wallace
, CNN
CNN — Americans pulled back on their spending last month after a surprisingly spendy January.

US retail sales fell 0.4% in February from the month before, which was revised up to 3.3%, the Department of Commerce reported on Wednesday.

That decline, which was adjusted for seasonal swings, was greater than economists' expectations of a 0.3% decline, according to Refinitiv estimates.

Retail sales data is not adjusted for inflation.

This story is developing and will be updated.

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