- Retail sales, a measure of purchases at stores, restaurants and online, rose by 3.8% in January over the month.
- Consensus among economists was a 2.0% increase.
- January’s 3.8% increase comes after December’s revised 2.5% decrease.
- Excluding autos, retail sales rose by 3.3% over the month.
- Spending slowed in part due to rising costs as consumer prices advanced 0.6% in January from December and 7.5% from a year earlier.
- The Right Facts will continue to monitor retail sales.