Retail sales grew 10.9% YoY in February, a rebound from the tepid 8.1% YoY growth in January, according to the GSO. The rebound is largely due to higher consumption during Tet. Adjusted for inflation, retail sales were up 3.6% YoY, better than the 1% in January. However, both nominal and real growth figures are below the level of a year earlier, demonstrating how weak personal income in 2012 has hurt individuals’ purchasing power this year.