January retail sales better than expected
Written on February 13, 2009
Retail sales figures released Thursday revealed better than expected results for January.
The U.S. Commerce Department reported retail sales rose 1 percent last month, but fell 9 percent year-over year. The numbers include auto, gas and restaurant sales.
Excluding auto, gas and restaurant sales, the National Retail Federation reported a .5 percent increase for the month and a 2.1 percent decrease for the year, said a news release.
“While 2009 got off to a surprising start, it’s going to be difficult for retailers to maintain this momentum,” said Rosalind Wells, NRF chief economist. “We expect the first half of the year to present challenges while giving way to sustained growth in the fourth quarter.”
Other findings for the month from the NRF included:
• Electronic and appliance stores sales increased 2 payday loan companies.6 percent in January compared to the previous month, but declined 7.4 percent compared to January of last year.
• Clothing and clothing accessories stores had a monthly increase of 1.6 percent and an 8 percent drop for the year.
• General merchandise stores sales increased 1.1 percent for the month and 3.5 percent for the year.
• Health and personal care stores sales were flat for the month and increased 3.5 percent for the year.
Filed in: business.