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US retail sales beat estimates in January

by ChemOrbis Editorial Team -
  • 12/02/2016 (16:46)
According to data released by the US Commerce Department, US retail sales exceeded expectations in January, increasing by 0.2% compared with economists’ estimates which called for a gain of 0.1% for the month. The increase was attributed to higher household spending in line with a strengthening labor market. Meanwhile, the December retail sales figure was revised up to a 0.2% gain from an initially reported increase of 0.1%.

Data showed that retail sales at service stations fell 3.1% following a decrease of 0.5% in December while auto sales rose 0.6% in January after rising 0.5% in the previous month. Retail sales at clothing stores gained 0.2% while sales at electronics and appliance outlets edged up 0.1% from a month earlier.
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