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- U.S. retail sales unexpectedly rise in January
U.S. retail sales unexpectedly rise in January
The Commerce
Department announced the sales at U.S. retailers rose 0.2 percent m-o-m in January
2019, following a revised 1.6 percent m-o-m decline in December 2018
(originally a drop of 1.2 percent m-o-m). That was the first monthly gain since
October last year.
Economists had
expected total sales would be flat m-o-m in January.
Excluding auto, retail
sales increased 0.9 percent m-o-m after a revised 2.1 percent m-o-m decrease in
the previous month (originally a fall of 1.8 percent m-o-m), exceeding
economists’ forecast for a 0.3 percent m-o-m advance.
Meanwhile, closely
watched core retail sales, which exclude automobiles, gasoline, building
materials and food services, and are used in GDP calculations, climbed 1.1
percent m-o-m in January, following a revised 2.3 percent m-o-m plunge in December
(originally a 1.7 percent m-o-m decrease).
In y-o-y terms, the
U.S. retail sales rose 2.3 percent in January, the same pace as in the previous
month.
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