Retail spending declined on a monthly basis in February amid concern over tariffs, but continued to grow year over year, according to the CNBC/NRF Retail Monitor, reported the National Retail Federation.

According to the report, total retail sales, excluding automobiles and gasoline, were down 0.22% (seasonally adjusted month over month) but up 3.38% (unadjusted year over year) in February, according to the Retail Monitor. That compared with a decrease of 1.07% month over month and an increase of 5.44% year over year in January.

“Consumer spending dipped slightly again in February due to the combination of harsh winter weather and declining consumer confidence driven by tariffs, concerns about rising unemployment and policy uncertainty,” NRF President and CEO Matthew Shay said. “Unease about the probability of inflation and paying higher prices for non-discretionary goods has the value-conscious consumer spending less and saving more. But for the moment, year-over-year gains reflect an economy with strong fundamentals.”

The Associated Press reported U.S. employers added 151,000 jobs last month. “The Labor Department reported Friday that hiring was up from a revised 125,000 in January. Economists had expected 160,000 new jobs last month. The unemployment rate rose slightly to 4.1% as the number of jobless Americans rose by 203,000,” wrote AP.

Job gains came in slightly lower than analysts’ expectations of 170,000 new jobs in February but were muted by workers impacted by severe winter weather and federal government layoffs, reported the Washington Post.

“Average hourly wage growth slowed in February compared with the prior month, rising by 0.3%, to $35.93 an hour, but outpacing inflation in a boost to workers’ pocketbooks,” wrote the Post.

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