Retail sales in the US mark the fourth consecutive monthly increase

Retail sales in the US mark the fourth consecutive monthly increase in January, as lower fuel prices encourage Americans to spend more. The retail sales rose by 0.3% MoM after a downward revision of 0.2% was recorded in the previous month, the Commerce Department said. The values ​​are in line with market expectations.

The sales are reporting an increase in motor vehicles and parts (+0.2% versus -1.7% in December). The same is true for furniture retailers (0.6% versus -1.6% in December), mixed retailers (2.3% versus -1.4% in December) and retail out of stores (0.3% versus -0.1% in December).

At the same time, despite lower prices, there was a decrease in the cost of gas stations – by 0.6%, compared to a 1.7% increase in December.

Sales in clothing stores marked their biggest decline since March 2009 – 3.1%.

Stable demand confirms that consumers remain a major driver of the economy. Sustainable staffing levels, as well as wage growth, also help to increase optimism and costs.

However, the economic risks remain due to sluggish exports, low business costs and the effects of the coronavirus epidemic.