Feb retail spending tipped to stay modest

The slow growth of wages and house prices are weighing on retail sales, with spending forecast to have risen by 0.4 per cent in February.

Retail figures, due out on Monday, are expected to show shoppers remain timid as wages and house price growth slows.

Spending is forecast to have risen 0.4 per cent in February, after rising 0.3 per cent in January, seasonally adjusted.

St George senior economist Hans Kunnen put it down to softer consumer sentiment, low wage growth and the wealth effects of the housing boom abating.