US Retail Sales Surge by 3.0% in January<\/p>\n
US retail sales surged in January, according to the latest data from the U.S. Commerce Department.[0]<\/a><\/sup> The value of overall retail purchases increased 3% in a broad advance \u2014 the most since March 2021 \u2014 after a 1.1% drop in the prior month. Retail sales, apart from gasoline and autos, experienced the largest increase in almost two years at 2.6%. The figures have not been adjusted for inflation.[1]<\/a><\/sup><\/p>\n Economists expected an increase of 1.8% in last month\u2019s headline number, but instead, retail sales beat expectations, rising 3% in January.[0]<\/a><\/sup> The Census Bureau reported that retail sales increased by 3% in January, which reversed the consecutive drops recorded in November and December. In every area of expenditure monitored by the government, consumers spent more than before – with the exception of gas stations, where sales were the same.[2]<\/a><\/sup><\/p>\n Retail sales surged 3% month-to-month to a total of $697 billion, exceeding the anticipated 1.7% increase according to FactSet. Sales increased by 2.6%, surpassing the prediction of a 0.45% rise, when taking into consideration the exclusion of vehicles and gas, which are two of the most unpredictable expenses. Excluding vehicle sales, core sales still exceeded expectations, increasing by 2.3% in comparison with the anticipated increase of 0.8% during the last month.[3]<\/a><\/sup> The control group in the report, excluding autos, gas, building materials, and food services, showed an increase of 1.7%, higher than the predicted 0.8%.[0]<\/a><\/sup><\/p>\n The consumer price index, which tracks price changes for a range of goods and services, came in higher than expected and showed that inflation rose by 0.5% in January.[4]<\/a><\/sup> A year ago, the CPI had increased by 6.4%.[5]<\/a><\/sup> These figures will be taken into account by the Federal Reserve as it looks to continue its war against inflation.[6]<\/a><\/sup><\/p>\n The most recent inflation data indicated that prices are staying at a high, troublesome level in the US, and the January US Employment Report was significantly better than anticipated, creating 517k jobs when the forecast was only 185k.[6]<\/a><\/sup> Signs of an improving US economy such as a robust labor market, increased retail sales, and strengthened manufacturing have given the Federal Reserve more flexibility in keeping interest rates higher for a longer duration if necessary.[6]<\/a><\/sup><\/p>\n 0. <\/span>“Gold price drops below $1850 as U.S. retail sales surprise on the upside in January” Kitco NEWS, 15 Feb. 2023, https:\/\/www.kitco.com\/news\/2023-02-15\/Gold-price-drops-below-1-850-as-U-S-retail-sales-surprise-on-the-upside-in-January.html<\/a><\/a><\/p>\n 1. <\/span>“US Retail Sales Jump by Most in Nearly Two Years in Broad Gain” Bloomberg, 15 Feb. 2023, https:\/\/www.bloomberg.com\/news\/articles\/2023-02-15\/us-retail-sales-jump-by-most-in-nearly-two-years-in-broad-gain<\/a><\/a><\/p>\n 2. <\/span>“Retail sales blowout underscores 2023’s unlikely boom” Axios, 15 Feb. 2023, https:\/\/www.axios.com\/2023\/02\/15\/the-2023-economic-boom<\/a><\/a><\/p>\n 3. <\/span>“US Retail Sales Jump 3% In January As Inflation Continues To Fall: What Investors Need To Know – SPDR S&P” Benzinga, 15 Feb. 2023, https:\/\/www.benzinga.com\/news\/23\/02\/30923643\/us-retail-sales-climbed-3-in-january-as-inflation-continues-to-fall-what-investors-need-to-know<\/a><\/a><\/p>\n 4. <\/span>“Dollar advances to six-week peak after strong U.S. retail sales data” CNBC, 15 Feb. 2023, https:\/\/www.cnbc.com\/2023\/02\/15\/dollar-finds-friends-after-sticky-us-inflation-readout.html<\/a><\/a><\/p>\n 5. <\/span>“Treasury yields rise as investors digest latest retail sales, inflation data” CNBC, 15 Feb. 2023, https:\/\/www.cnbc.com\/2023\/02\/15\/us-treasury-yields-investors-digest-latest-inflation-data.html<\/a><\/a><\/p>\n 6. <\/span>“US Retail Sales Beat Expectations, US Dollar (DXY) Continues to Move Higher” DailyFX, 15 Feb. 2023, https:\/\/www.dailyfx.com\/news\/us-retail-sales-beat-expectations-us-dollar-dxy-continues-to-move-higher-20230215.html<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" US Retail Sales Surge by 3.0% in January<\/p>\n US retail sales surged in January, according to the latest data from the U.S. Commerce Department.[0]<\/a><\/sup> The value of overall retail purchases increased 3% in a broad advance \u2014 the most since March 2021 \u2014 after a 1.1% drop in the prior month. Retail sales, apart from gasoline and autos, experienced the largest increase in almost two years at 2.6%. The figures have not been adjusted for inflation.[1]<\/a><\/sup><\/p>\n Economists expected an increase of 1.8% in last month\u2019s headline number, but instead, retail sales beat expectations, rising 3% in January.[0]<\/a><\/sup> The Census Bureau reported that retail sales increased by 3% in January, which reversed the consecutive drops recorded in November and December. In every area of expenditure monitored by the government, consumers spent more than before – with the exception of gas stations, where sales were the same.[2]<\/a><\/sup><\/p>\n Retail sales surged 3% month-to-month to a total of $697 billion, exceeding the anticipated 1.7% increase according to FactSet. Sales increased by 2.6%, surpassing the prediction of a 0.45% rise, when taking into consideration the exclusion of vehicles and gas, which are two of the most unpredictable expenses. Excluding vehicle sales, core sales still exceeded expectations, increasing by 2.3% in comparison with the anticipated increase of 0.8% during the last month.[3]<\/a><\/sup> The control group in the report, excluding autos, gas, building materials, and food services, showed an increase of 1.7%, higher than the predicted 0.8%.[0]<\/a><\/sup><\/p>\n The consumer price index, which tracks price changes for a range of goods and services, came in higher than expected and showed that inflation rose by 0.5% in January.[4]<\/a><\/sup> A year ago, the CPI had increased by 6.4%.[5]<\/a><\/sup> These figures will be taken into account by the Federal Reserve as it looks to continue its war against inflation.[6]<\/a><\/sup><\/p>\n The most recent inflation data indicated that prices are staying at a high, troublesome level in the US, and the January US Employment Report was significantly better than anticipated, creating 517k jobs when the forecast was only 185k.[6]<\/a><\/sup> Signs of an improving US economy such as a robust labor market, increased retail sales, and strengthened manufacturing have given the Federal Reserve more flexibility in keeping interest rates higher for a longer duration if necessary.[6]<\/a><\/sup><\/p>\n 0. <\/span>“Gold price drops below $1850 as U.S. retail sales surprise on the upside in January” Kitco NEWS, 15 Feb. 2023, https:\/\/www.kitco.com\/news\/2023-02-15\/Gold-price-drops-below-1-850-as-U-S-retail-sales-surprise-on-the-upside-in-January.html<\/a><\/a><\/p>\n 1. <\/span>“US Retail Sales Jump by Most in Nearly Two Years in Broad Gain” Bloomberg, 15 Feb. 2023, https:\/\/www.bloomberg.com\/news\/articles\/2023-02-15\/us-retail-sales-jump-by-most-in-nearly-two-years-in-broad-gain<\/a><\/a><\/p>\n 2. <\/span>“Retail sales blowout underscores 2023’s unlikely boom” Axios, 15 Feb. 2023, https:\/\/www.axios.com\/2023\/02\/15\/the-2023-economic-boom<\/a><\/a><\/p>\n 3. <\/span>“US Retail Sales Jump 3% In January As Inflation Continues To Fall: What Investors Need To Know – SPDR S&P” Benzinga, 15 Feb. 2023, https:\/\/www.benzinga.com\/news\/23\/02\/30923643\/us-retail-sales-climbed-3-in-january-as-inflation-continues-to-fall-what-investors-need-to-know<\/a><\/a><\/p>\n 4. <\/span>“Dollar advances to six-week peak after strong U.S. retail sales data” CNBC, 15 Feb. 2023, https:\/\/www.cnbc.com\/2023\/02\/15\/dollar-finds-friends-after-sticky-us-inflation-readout.html<\/a><\/a><\/p>\n 5. <\/span>“Treasury yields rise as investors digest latest retail sales, inflation data” CNBC, 15 Feb. 2023, https:\/\/www.cnbc.com\/2023\/02\/15\/us-treasury-yields-investors-digest-latest-inflation-data.html<\/a><\/a><\/p>\n 6. <\/span>“US Retail Sales Beat Expectations, US Dollar (DXY) Continues to Move Higher” DailyFX, 15 Feb. 2023, https:\/\/www.dailyfx.com\/news\/us-retail-sales-beat-expectations-us-dollar-dxy-continues-to-move-higher-20230215.html<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":918,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/919"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=919"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/919\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/918"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}