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Retail Sales in U.S. Rose in January
Washington: U.S. retail sales rose 0.4 percent in January due, mainly, to the activity in department stores, general merchandise stores and bars and restaurants, the Commerce Department announced.
In December, despite the traditional holiday buying, retail sales showed little change over November.
The majority of analysts had calculated that there would be a 1 percent increase in retail sales last month.
In any case, if one leaves to the side vehicle sales, then retail sales increased by 0.7 percent in January.
Although the annual automotive vehicle sales rate rose in January at its fastest pace in three years, the total sales volume reflects the fact that dealers and manufacturers were offering substantial price discounts to attract buyers.
Sales volume for vehicles fell from an annualized rate of $72.5 billion in December to $71.7 billion in January.
Source: IANS