Retail Sales in U.S. Climb More Than Forecast in Broad Advance

U.S. retail sales rose more than forecast last month in a broad-based advance that indicates the consumer is well-positioned to propel the economy in early 2017.

The 0.4 percent advance in January followed a 1 percent gain in the prior month that was larger than previously reported, a Commerce Department report showed Wednesday. The median forecast in a Bloomberg survey called for a 0.1 percent rise. Excluding a decline at auto dealers, sales increased the most in four months.