U.S. Retail Sales Down 0.4% In January
U.S. retail and food services sales for January fell 0.4 percent, led by a drop in automobile sales. It was the biggest decline in 10 months.
The 0.4 percent decrease followed a revised 0.1 percent drop in December that was previously reported as an increase.
Stripping out automobiles, gasoline, building materials and food services, so-called core sales fell 0.3 percent after rising by a downwardly revised 0.3 percent in December. Sales excluding automobiles were unchanged.
Retail sales were up 2.6 percent compared to January of 2013.
Total sales for the November 2013 through January 2014 period were up 3.4 percent from the same period a year ago. The November to December 2013 percent change was revised from +0.2 percent to -0.1 percent.
Nonstore retailers were up 6.5 percent from January 2013 and auto and other motor vehicle dealers were up 4.1 percent from last year.
2/13/2014 2:13:46 PM