Retail sales bounced back strongly in January as inflation eased and income grew, the National Retail Federation (NRF) said. The US Census Bureau said overall retail sales in January were up 3% from December and up 6.4% year over year. In December, sales were down 1.1% month over month but up 5.9% year over year.<\/p>\n
NRF President and CEO Matthew Shay said, \u201cDespite inflationary headwinds, January retail sales show the resiliency of consumers in how they manage their budgets and make decisions on how, when and where to spend their hard-earned dollars. Retailers have in place the people, processes, and technologies to meet consumers with the right inventory, competitive pricing and great experiences however consumers choose to shop.\u201d<\/p>\n
NRF Chief Economist Jack Kleinhenz added, \u201cSales were helped along by job and wage growth, slightly lower inflation and unusually warm and dry weather that preceded February\u2019s record cold. A large cost-of-living adjustment gave Social Security beneficiaries more money to spend, and many consumers were still drawing on savings built up during the pandemic.\u201d<\/p>\n
The US Census Bureau said overall retail sales in January were up 3% from December and up 6.4% year over year. In December, sales were down 1.1% month over month but up 5.9% year over year.<\/p>\n
NRF\u2019s calculation of retail sales showed January was up 1.5% from December and up 4.8% unadjusted year over year.<\/p>\n
January\u2019s results follow a 5.1% year-over-year increase in combined November-December holiday sales to $934.7 billion. Total 2022 retail sales as calculated by NRF grew 7% to $4.9 trillion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Retail sales bounced back strongly in January as inflation eased and income grew, the National Retail Federation (NRF) said. The US Census Bureau said overall retail sales in January were up 3% from December and up 6.4% year over year. In December, sales were down 1.1% month over month but up 5.9% year over year.…<\/p>\n","protected":false},"author":1,"featured_media":19900,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-19899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n