On a monthly basis, retail sales decreased 0.3 percent from December to January (seasonally adjusted), and sales were up 3.6 percent from January 2017.



From the Census Bureau report:



Advance estimates of U.S. retail and food services sales for January 2018, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $492.0 billion, a decrease of 0.3 percent from the previous month, but 3.6 percent above January 2017. ... The November 2017 to December 2017 percent change was revised from up 0.4 percent to virtually unchanged.

Click on graph for larger image.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).Retail sales ex-gasoline were down 0.4% in January.The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993. Retail and Food service sales, ex-gasoline, increased by 3.5% on a YoY basis.The increase in January was well below expectations, and sales in November and December were revised down sharply. A disappointing report.