Economics
U.S. Retail Sales Rise in January, Stabilizing After a Slump
- Eight of 13 categories advanced, including building materials
- December report is revised down to 1.6% drop from 1.2% decline
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U.S. retail sales stabilized in January after a plunge the prior month that was larger than first reported, indicating consumers may still be able to help support economic growth after a dismal end to 2018.
The value of overall rose 0.2 percent after a 1.6 percent drop in the prior month that was the steepest since 2009, Commerce Department data showed Monday. The median forecast in Bloomberg’s survey called for an unchanged reading.