US January retail sales rise
US retail sales, both total and excluding autos, are expected to have risen in January as consumer confidence remained high, employment growth stayed solid, and warmer weather encouraged people to buy automobiles and spend money to shop, analysts...
US retail sales, both total and excluding autos, are expected to have risen in January as consumer confidence remained high, employment growth stayed solid, and warmer weather encouraged people to buy automobiles and spend money to shop, analysts say.
A Reuters poll of 53 economists showed a median forecast of a 0.8 per cent increase in total retail sales in January and 0.7 per cent rise excluding autos.
In December, headline retail sales grew 0.7 per cent, while ex-autos rose a more moderate 0.2 per cent.
Analysts also said delayed holiday spending and gift card purchases were likely to have boosted the January numbers. The general merchandise, department store, furniture and electronics sectors all fell in December and are expected to recover in January.
Cautious buyers got some relief from fairly softer energy prices in late December, analysts said, and that should underpin growth in US retail sales last month.