Dive Summary:

• Retail sales rose 1.1% in February as an improving job market eased the impact of a 2% payroll tax increase.
• The retail sales increase exceeded the median forecast of 0.5% from a Bloomberg survey, and Stone & McCarthy Research economic analyst Terry Sheehan said the numbers are "cause for cautious optimism."
• The increase is being largely credited to improved consumer sentiment stemming from a February payroll increase of 236,000 jobs and unemployment dropping to a four-year low of 7.7%.

From the article:

... The 1.1 percent advance exceeded all projections in a Bloomberg survey and followed a revised 0.2 percent gain in January, Commerce Department figures showed today in Washington. The median forecast was for a 0.5 percent advance. Sales excluding the volatile categories of autos and gasoline rose 0.4 percent. ...