US retail sales fell more than expected last January, affected by a decline in sales at auto stores and gasoline service stations.
The Commerce Department’s Census Bureau said Thursday that retail sales fell 0.8 percent last month, and were likely also affected by winter storms.
December data was revised downward, showing sales rising by 0.4 percent instead of 0.6 percent as reported in previous reports.
Economists polled by Reuters had expected retail sales to decline by 0.1 percent.
Commodity sales exceed retail sales and are not adjusted for inflation.
The decline follows a relatively strong performance in the holiday season.
December sales are also partly influenced by generous seasonality factors, a model the government uses to exclude seasonal fluctuations from the data.
A separate report issued by the Department of Labor on Thursday showed that applications submitted for the first time for unemployment benefits in America fell by eight thousand to a seasonally adjusted level of 212 thousand during the week ending February 10.
2024-02-15 16:26:10
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