Retail sales fall 0.8% in January from December as shoppers pause after strong holiday season
Hindustan TimesNEW YORK — Americans pulled back their spending more than expected in January after the traditional holiday season splurge. HT Image Retail sales fell 0.8% in January from the strong pace in December when they rose a revised 0.4%, according to the Commerce Department's report on Thursday. The retail sales report could offer positive news that the Federal Reserve could finally start to cut rates, bringing relief to shoppers and businesses seeking lower rates for borrowing. Beauty raised its annual profit and sales outlook last week after the beauty company reported strong sales in the latest quarter that included the holiday season. “It’s one of these great categories, where particularly with all the pent-up demand from the pandemic, people really expressed themselves.” The government’s monthly retail sales report offers only a partial look at consumer spending; it doesn’t include many services, including health care, travel and hotel lodging.
History of this topic
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