Retail Sales Rise Again; CE Up
Retail sales posted their seventh straight monthly gain, with electronics and appliance sales keeping pace, according to government figures released Tuesday.
Overall retail sales rose 0.3 percent over December and 7.8 percent over last January, while sales of electronics and appliances rose 0.3 percent as well over last month, according to the Department of Commerce's monthly figures. Overall sales were also up 0.3 percent when excluding sales of autos.
“The continued growth in consumer spending, particularly following a strong holiday shopping season, is welcome news to the retail industry,” Sandy Kennedy, president of the Retail Industry Leaders' Association, said in a statement. “As retailers restock for springtime, they do so with confidence that the recent growth will continue.”