US retail sales slip

WASHINGTON: US retail sales slipped last month, pulled down by sharply lower gas prices, and Americans spent much less in January than previously estimated. The figures suggest that consumers remain cautious about spending despite steady hiring. Retail sales fell 0.1 per cent in February, the Commerce Department said on Tuesday. Excluding the volatile gas and auto categories, sales rose 0.3 per cent. Overall sales were revised sharply lower in January, from a 0.2 per cent gain to a drop of 0.4 per cent. Americans' reluctance to open their wallets could hold back growth in first three months of this year.