Wednesday, February 13, 2013

U.S. Retail Sales Post Modest Gains in January

Retail sales in the U.S. rose for the third consecutive month in January, as the increase in payroll taxes that has taken a bite out of consumers’ paychecks has been somewhat offset by an improved job market, higher property values and stock prices.

The U.S. Department of Commerce reported that Advance Estimates of U.S. Retail and Food Services sales for January increased 0.1% over the prior month to a seasonally adjusted $416.6 billion, while sales increased 4.4% compared to the year-ago period. Year-over-year, this was the 39th straight gain after 14 consecutive months of declines during the recession.

Total sales excluding Autos were up 3.6% in January from the year-ago period and rose 0.2% from the prior month, while total sales less Autos and Gas Stations showed a 4.0% year-on-year increase and were up 0.2% from December.

Results were mixed in January, with only 6 of 13 sectors posting growth over the prior month, but we wouldn't read too much into the relative weakness as January and February are typically the lightest-volume months of the year.

No comments:

Post a Comment