January Retail Spend Surges 5.3% - Tops Forecasts
February 17, 2021
The U.S. Census Bureau made advanced estimates of U.S. retail and food services sales for January 2021:
Advance estimates of U.S. retail and food services sales for January 2021, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $568.2 billion, an increase of 5.3 percent (±0.5 percent) from the previous month, and 7.4 percent (±0.7 percent) above January 2020.
Wall street was expecting a rise of just 1.2%.
Total sales for the November 2020 through January 2021 period were up 4.6 percent (±0.5 percent) from the same period a year ago. The November 2020 to December 2020 percent change was revised from down 0.7 percent (±0.5 percent) to down 1.0 percent (±0.3 percent).
Retail trade sales were up 5.1 percent (±0.5 percent) from December 2020, and 10.8 percent (±0.7 percent) above last year. Nonstore retailers were up 28.7 percent (±1.8 percent) from January 2020, while sporting goods, hobby, musical instrument, and book stores were up 22.5 percent (±4.0 percent) from last year.