Retail sales jumped 3.8 percent in January, beating expectations

[mystery-ak]

Retail sales jumped 3.8 percent in January, beating expectations
By Sylvan Lane - 02/16/22 10:42 AM EST

Retail sales rose 3.8 percent in January, according to data released Wednesday by the Census Bureau, far higher than economists had expected.

Retailers and restaurants made a seasonally adjusted total of $649.8 billion in sales last month, up from a revised total of $626.3 billion in December. Economists expected retail sales to rise 2.1 percent in January after falling 2.5 percent in the final month of 2021.

“US consumers have obviously shrugged off concerns about empty shelves and surging coronavirus cases, as revealed by today’s exceptionally strong retail sales figures,” wrote Matthew Sherwood, global economist at the Economist Intelligence Unit, in a Wednesday analysis.


“As in the case of the recent jobs numbers, the Omicron variant of covid-19 has barely registered an impact, at least in terms of employment and retail spending,” he continued.

Economists had expected the record-breaking surge of COVID-19 cases driven by the omicron variant to wipe out January job growth and weigh heavily on retail sales. But consumers powered through the resurgent pandemic and high inflation, even as consumer prices rose 0.6 percent in January, according to Labor Department data released last week.

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https://thehill.com/policy/finance/594507-retail-sales-jumped-38-percent-in-january-beating-expectations

[catfish1957]

Very misleading, as a big share, maybe half  of that was Bidenflation.  Coupled with the other half being ecomomic improvement as the pandemic is ending (despite dimocratic stupidity).

Beleive me, this is despite Biden's intentional attempt to destroy our economy.

[DefiantMassRINO]

Sales increase still less than the inflation rate.  People bought less stuff, but at higher prices.

[Kamaji]

Very misleading, as a big share, maybe half  of that was Bidenflation.  Coupled with the other half being ecomomic improvement as the pandemic is ending (despite dimocratic stupidity).

Beleive me, this is despite Biden's intentional attempt to destroy our economy.

Sales increase still less than the inflation rate.  People bought less stuff, but at higher prices.

Exactly, on both points!

[catfish1957]

Sales increase still less than the inflation rate.  People bought less stuff, but at higher prices.

Was that month to month or annualized?  If it was annualized you are right.  And significant differential negatively.

I think it was reported month to month, but I might be wrong.