Unexpected Rise In Retail Sales, CE Sluggish
The U.S. Commerce Department offered some positive economic news today with its monthly retail sales estimates, saying that retail and food services sales for January increased .3 percent over December and 3.9 percent over last January.
Total sales from November 2007 through January 2008 were up 4.4 percent from the year-ago period. The report is considered a bellweather of consumer spending.
Electronics and appliances, however, fell to $9.3 billion from $9.4 billion in December and $9.4 billion from last January, according to the report.