IE Business Daily Business news for the Inland Empire.
U.S. retail sales rose modestly in January, the fourth consecutive month sales have been higher than the previous month, according to data released Feb. 12.
Total retail sales, not counting automobile dealerships and gasoline stations, were up 0.2 percent seasonally adjusted compared with January, and up 5.7 percent unadjusted year-over-year, according to the CNBC/NRF Retail Monitor.
In December, those numbers were an increase of 1.2 percent month-over-month and up 3.54 percent year-over-year.
“Consumer spending continues to drive the broader economy forward, supported by healthy household finances and real wage gains that have increased purchasing power,” said Matthew Shay, the retail federation’s president and chief executive officer, in the statement. “Retailers are doing their part by leveraging supply chains and new technologies to ensure that products remain affordable.”
Retail sales in November and December rose 4.1 percent compared with last two months of 2024, the retail federation reported.
