|Photo credit: Olivia Bucks/The Oregonian|
January retail industry sales (excluding automobiles, gas stations and restaurants) increased 0.9 percent seasonally adjusted from December and 4 percent unadjusted year-over-year, according to the National Retail Federation.
“Thanks to a combination of unseasonably warm weather across much of the country and millions of shoppers with gift cards burning holes in their pockets, retailers are still riding the tailwinds of consumers’ spending power,” said Matthew Shay, NRF President and CEO. “As a traditionally slower sales month for the industry, it’s encouraging to see such sustained growth in consumer spending and sentiment.”
Meanwhile, January retail sales data, released by the U.S. Department of Commerce, showed total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 5.6 percent unadjusted year-over-year and 0.4 percent seasonally adjusted month-to-month.
Among the highlights of NRF data are:
• Sales in sporting goods, hobby, book and music stores increased 1.1 percent seasonally month-to-month and 3.5 percent unadjusted year-over-year.
• General merchandise stores’ sales increased 2 percent seasonally-adjusted over December and 4.7 percent unadjusted year-over-year.
• Sales at building material, garden equipment and supplies dealers increased 0.2 percent seasonally adjusted from the previous month and a strong 10.5 percent unadjusted year-over-year.
• Sales at furniture and home furnishing stores decreased 0.2 seasonally adjusted from December and increased 7.9 percent unadjusted year-over-year.
• Electronics and appliance stores’ sales increased 0.5 percent seasonally adjusted month-to-month and decreased 1.1 percent unadjusted year-over-year, and sales at clothing and clothing accessory stores’ sales were flat over the previous month and increased 3.4 percent unadjusted over last year.