Retail sales in the United States increased by 0.2 percent in January compared to the previous month. The US Department of Commerce reported this.
On average, economists assumed a stabilization compared to a month earlier. US retail sales declined by a revised 1.6 percent in December. A decrease of 1.2 percent was reported earlier for that month. This is the strongest fall in ten years.
The figures showed that the sale of building materials was on the rise, just like food, sports and hobby items. Car sales went down, as did the sale of fuel, furniture and clothing. Excluding cars and fuel, there was a 1.2 percent increase in retail sales.
The slight rebound in store sales in January may somewhat ease investors’ concerns about a weakening of the US economy and less strong consumer spending. Consumer spending accounts for around 70 percent of the US economy.