The National Retail Federation announced last week that retail sales grew slightly in January, reporting an increase of .3 percent seasonally adjusted from December and 5.4 percent unadjusted year-over-year. (The number does not include sales in the automobile, restaurant or gas station industries.)
The U.S. Department of Commerce also announced that total January food and retail sales figures, which do include gas, restaurant and automobile sales, moved up .1 percent seasonally adjusted month-to-month, and 4.7 percent adjusted year-over-year.
“With the return of healthy housing prices, stronger employment statistics combined with historic highs on Wall Street at the end of 2012 and 2013, consumers seem a bit more confident these days,” NRF Chief Economist Jack Kleinhenz said in the news release. “Even though retail sales were relatively modest in January, consumers seem to have adjusted accordingly to rising taxes and energy prices. Far from secure, consumer confidence continues to be shaky.”
Last month, the NRF released its annual retail sales forecast for 2013, and predicts that retail industry sales (excluding automobiles, gas stations and restaurants) will increase 3.4 percent in 2013. The NRF also estimates that online sales will grow between 9 and 12 percent.
To read the full article, visit NRF’s website.