Retail sales head down in January, according to NRF and Department of Commerce
A combination of harsh January weather and post-holiday consumer malaise appear to be the drivers for lower retail sales for the month, according to data released by the National Retail Federation and the United States Department of Commerce today.
Commerce reported that January retail sales at $427.8 billion were down 0.4 percent compared to December (which was revised from 0.2 percent growth from November to December to -0.1 percent) and up 2.6 percent compared to January 2013. Total retail sales from November through January are up 3.4 percent annually, and it added that total retail sales for all of 2013 were up 4.2 percent compared to 2012.
NRF reported that January retail sales, which exclude autos, gas stations, and restaurants, were flat on a seasonally-adjusted basis from December to January and were up 3.0 percent on an unadjusted basis annually.
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