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U.S. Retail Sales Surprise With Sharpest Advance in Seven Months

  • Jump tops all estimates, reflects $600 relief payments
  • May influence debate over Biden’s $1.9 trillion stimulus plan
Bloomberg business news
U.S. Retail Sales Show Sharpest Gain in Seven Months
Updated on

U.S. retail sales surged in January by the most in seven months, beating all estimates and suggesting fresh stimulus checks helped spur a rebound in household demand following a weak fourth quarter.

The value of overall sales increased 5.3% from the prior month after a 1% decline in December, Commerce Department figures showed Wednesday. It was the first monthly gain since September and all major categories showed sharp advances.