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US: Retail Sales rise by 3% in January vs. 1.8% expected
Retail Sales in the United States rose by 3% to $697 billion in January, the US Census Bureau reported on Wednesday. This reading followed December's decrease of 1.1% and came in better than the market expectation for an increase of 1.8%. Retail Sales ex-Autos expanded by 2.3% in the same period, compared to analysts' estimate of +0.8%. "Total sales for the November 2022 through January 2023 period were up 6.1% from the same period a year ago," the publication further read. "Retail trade sales were up 2.3% from December 2022, and up 3.9% above last year." The US Dollar gathered strength with the initial reaction and ... (full story)
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Retail sales jump 3% in January, smashing expectations despite inflation increase
Sales at retailers rose far more than expected in January as consumers persevered despite rising inflation pressures. Advance retail sales for the month increased 3%, compared to expectations for a rise of 1.9%, the Commerce Department reported Wednesday. Excluding autos, sales increased 2.3%, according to the report, which is not adjusted for inflation. The ex-autos estimate was for a gain of 0.9%. Food services and drinking places surged 7.2% to lead all major categories. Motor vehicle and parts dealers increased 5.9%,while furniture and home furnishing stores saw an increase of 4.4%. Even with a 2.4% increase in ... (full story)