Retail Sales Rose 0.5% In January

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Retail sales increased in line with economist estimates in the month of January, according to a report released by the Commerce Department on Friday, with the report also showing a smaller than previously reported drop in December sales.

The report showed that retail sales increased by 0.5 percent in January following a revised 0.1 percent decrease in December. Economists had been expecting sales to increase by 0.5 percent compared to the 0.3 percent decrease originally reported for the previous month.

Excluding sales by motor vehicle and parts dealers, retail sales increased by 0.6 percent in January compared to a 0.2 percent decrease in the previous month. The increase in ex-auto sales came in slightly above economist expectations for 0.5 percent growth.

Retail sales increased in line with economist estimates in the month of January, according to a report released by the Commerce Department on Friday, with the report also showing a smaller than previously reported drop in December sales. (Market News Provided by RTTNews)