Who would have guessed? Even with the caveat below, it sure doesn’t sound like the world is coming to an end?
U.S. retail sales jumped 1 percent in January, reversing a six-month declining trend and defying economists’ expectations by posting the biggest increase in 14 months.
But higher gasoline prices and sales, and buyers snapping up other items on post-holiday discounts appeared to aid last month’s results. Analysts cautioned that the relief is unlikely to last.
Note, these are month over month sales. As the article states, retail sales are down 9.7% on a year over year basis. Still, this data point may be the start of stabilization of the retail marketplace.
