Retail sales last month increased 0.5%, the Commerce Department said Friday. Economists surveyed by Dow Jones Newswires had forecast a 0.3% increase. The report also showed December retail sales were adjusted upward, to a 0.1% decrease from a previously reported 0.3% decline.
January retail sales released today by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 0.5% seasonally adjusted over December and 3.2% unadjusted year-over-year.
“We continue to see the economy show subtle signs of improvement,” said Rosalind Wells, Chief Economist for NRF. “While the recovery still has a long way to go, we remain encouraged by the latest retail sales figures.”
Retailers offered special deals aimed at enticing shoppers to hit the stores to use gift cards they received over the holiday season and stock up on clearance items.
Sales at electronics and appliance stores increased 1.2% seasonally adjusted and decreased 7.6% unadjusted year-over-year. Clothing and clothing accessory store sales increased 0.3% seasonally adjusted month-to-month and decreased 1.7% unadjusted from January 2009. Sporting goods, hobby, book and music stores also saw solid increases, with sales jumping 1.0% seasonally adjusted from December and 5.5% unadjusted year-over-year.
Sales at health and personal care stores increased 0.1% seasonally adjusted month-to-month and 2.3% unadjusted year-over-year. The housing market is still showing signs of uncertainty as sales at furniture and home furnishing stores fell 1.4% seasonally adjusted over the previous month and 6.4% unadjusted year-over-year.
