February retail sales post highest gain in months

U.S. retail sales in February posted the highest gain in five months, according to a new report.

Sales increased 1.1 percent in February, following a 0.2 percent increase in January, according to the U.S. Department of Commerce. Sales were 4.6 percent higher year-over-year and the increase is the highest since September.

Economists surveyed by Bloomberg estimated February would see between a 0.6 percent decrease and 1 percent increase in retail sales.

Gasoline sales increased 5 percent, reflecting higher prices, and car sales increased 1.1 percent. Home and furniture store sales decreased 1.6 percent and general merchandise store sales increased 0.5 percent.