this post was submitted on 15 Feb 2024
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Economics

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Retail sales tumbled 0.8% in January, much more than expected (www.cnbc.com)
submitted 10 months ago by MicroWave to c/economics
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  • Advance retail sales declined 0.8% for January, down from a 0.4% gain in December and worse than the estimate for a 0.3% drop.
  • Sales at building materials and garden stores were especially weak, sliding 4.1%. Miscellaneous store sales fell 3% and motor vehicle parts and retailers saw a 1.7% decrease.
  • Also, initial claims for unemployment insurance totaled 212,000 for the week ended Feb. 10, a decline of 8,000 from the previous week’s upwardly revised total and below the estimate for 220,000.
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