Retail Sales Rise 0.4% in January

February 13, 2012  by in UnCategorized   

By Aggregated Content in economic news on February 14, 2012 from http://c.moreover.com/click/here.pl?z5920115767&z=1250249029

U.S. retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.

Total retail sales increased 0.4 percent after being flat in December, the Commerce Department said today. Economists polled by Reuters had forecast retail sales climbing 0.7 percent last month.

The government had initially estimated that sales rose 0.1 percent in December, and on Tuesday it also revised downward its reading for retail sales in November. The revisions suggest consumers did not spend as much as previously thought during the holiday shopping season.

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