U.S. retail sales dropped 0.4 percent in January, according to the U.S. Department of Commerce.
The National Retail Federation is predicting U.S. retail sales will increase 4.1 percent in 2014.
While affluent consumer confidence as measured by Unity Marketing's Luxury Consumption Index rose slightly in early January, the latest survey forecasting spending and purchases among the affluent shoppers shows they are more likely to save and invest any financial gains they accumulate over the next 12 months, rather than pick up the pace of spending on luxury or high-end goods and services.
New orders for furniture from retailers rose 10 percent in November 2013 compared with the same month in 2012, according to the latest Furniture Insights survey.
The U.S. Department of Commerce reported today that consumer spending rose 0.4 percent in December 2013 compared with the same prior-year month.
U.S. consumer confidence hit its highest point since August on the strength of a stronger job market and economic conditions.
U.S. retail sales edged up in December with a core spending gauge posting a big jump, a sign the economy gathered steam at the end of last year and was poised for stronger growth in 2014.