January Retail Sales See Unexpected Bounce
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U.S. Retail Sales rose an unexpected 1% in January, well above the consensus view of a 0.8% drop. Retail Sales excluding autos rose 0.9%, versus the consensus of a 0.4% drop.
The rise in January followed a 3.1% drop in December.
Solid post-holiday sales was the explanation by analysts for the January bump, but, with job losses mounting, it is not expected to last.
The rise in January followed a 3.1% drop in December.
Solid post-holiday sales was the explanation by analysts for the January bump, but, with job losses mounting, it is not expected to last.
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