Positive January Retail Sales Jump-Start the Year
Mar 1, 2012
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U.S. retailers’ January sales saw solid growth across the board, according to the National Retail Federation. NFR's analysis showed January retail industry sales (excluding cars, gas stations, and restaurants) was up 0.9% seasonally adjusted from December and 4.0% unadjusted year-over-year.
Electronics and appliance stores’ sales were up 0.5% seasonally adjusted month-to-month and were down 1.1% unadjusted year-over-year.
National Retail Federation President and CEO Matthew Shay indicated that sales were helped by mild January weather, and by "millions of shoppers with gift cards burning holes in their pockets."
He added, "As a traditionally slower sales month for the industry, it’s encouraging to see such sustained growth in consumer spending and sentiment."
NFR reported that:
• General merchandise store sales were up 2.0% seasonally-adjusted over December and 4.7% unadjusted year-over-year.
• The mild weather may have spurred consumers to work on their home and gardens. Sales at building material, garden equipment, and supplies dealers were up 2.0% seasonally adjusted from the previous month and up 10.5% unadjusted year-over-year.
• Furniture and home furnishing store sales were down 0.2% adjusted from December and were up 7.9% unadjusted year-over-year.
• Electronics and appliance stores’ sales were up 0.5% seasonally adjusted month-to-month and were down 1.1% unadjusted year-over-year.
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