As expected, January retail sales demonstrated that consumers last month were focused on buying necessities more than discretionary items. According to the National Retail Federation, retail industry sales for January rose 2.0 percent unadjusted over last year and 0.1 percent seasonally adjusted from December.
January retail sales released by the U.S. Commerce Department show total retail sales increased 0.3 percent seasonally adjusted from last month and 4.6 percent unadjusted year-over-year.
“The January numbers are indicative of the issues consumers are facing, including the housing slump, a sluggish employment sector and high energy prices,” said NRF Chief Economist Rosalind Wells. “We expect to see marginal improvements in the second half of the year once consumers begin to receive their rebate checks.”
Helped in part by winter clearance sales and other weather-related purchases, sales at clothing and clothing accessories stores increased 1.4 percent unadjusted year-over-year and 1.4 percent seasonally adjusted month-to-month.
Health and personal care stores sales also saw moderate increases with sales increasing 3.5 percent unadjusted over last year and 0.8 percent seasonally adjusted from December.
General merchandise stores sales also increased 3.5 percent unadjusted year-over-year and 0.1 percent seasonally adjusted month-to-month.
Stores selling home-related merchandise saw the biggest sales declines.
Sales at furniture and home furnishings stores decreased 4.3 percent unadjusted over last year and 0.5 percent seasonally adjusted from last month. Building material and garden and equipment stores sales decreased 5.8 percent unadjusted year-over-year and 1.7 percent seasonally adjusted month-to-month.
January retail sales released by the U.S. Commerce Department show total retail sales increased 0.3 percent seasonally adjusted from last month and 4.6 percent unadjusted year-over-year.
“The January numbers are indicative of the issues consumers are facing, including the housing slump, a sluggish employment sector and high energy prices,” said NRF Chief Economist Rosalind Wells. “We expect to see marginal improvements in the second half of the year once consumers begin to receive their rebate checks.”
Helped in part by winter clearance sales and other weather-related purchases, sales at clothing and clothing accessories stores increased 1.4 percent unadjusted year-over-year and 1.4 percent seasonally adjusted month-to-month.
Health and personal care stores sales also saw moderate increases with sales increasing 3.5 percent unadjusted over last year and 0.8 percent seasonally adjusted from December.
General merchandise stores sales also increased 3.5 percent unadjusted year-over-year and 0.1 percent seasonally adjusted month-to-month.
Stores selling home-related merchandise saw the biggest sales declines.
Sales at furniture and home furnishings stores decreased 4.3 percent unadjusted over last year and 0.5 percent seasonally adjusted from last month. Building material and garden and equipment stores sales decreased 5.8 percent unadjusted year-over-year and 1.7 percent seasonally adjusted month-to-month.
