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Sales at U.S. Retailers Increase in Sign of Steady Consumer
U.S. retail sales rose in January for a fourth straight month as cheaper prices at the gas pump encouraged Americans to spend on other goods, underscoring steady consumer spending. The value of overall sales climbed 0.3% after a downwardly revised 0.2% increase the prior month, Commerce Department figures showed Friday. Excluding receipts at filling stations, retail purchases increased 0.3%, the most in five months. Steady demand at retailers indicates the consumer remains the economy’s key fuel source. Resilient hiring and wage growth are helping to boost both sentiment and spending. Economists forecast household ... (full story)
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