The US retail sector started the year with overwhelming enthusiasm

After the 1 percent increase of December, retail sales in the United States increased by 0.4 percent this January, which significantly exceeded analysts’ expectations. The annual pace of 4.4 percent has accelerated to 5.6 percent, which is a nearly five-year record.

U.S. retail sales rose more than expected in January as households bought electronics and a range of other goods, pointing to sustained domestic demand that should bolster economic growth in the first quarter.

The Commerce Department said on Wednesday retail sales increased 0.4 percent last month. December’s retail sales were revised up to show a 1.0 percent rise instead of the previously reported 0.6 percent advance. (portfolio.hu)