US retail sales rise in January, led by gas and restaurants
WASHINGTON — Retail sales rose a seasonally adjusted 0.4 per cent last month, slowing down from a solid 1 per cent gain in December, the Commerce Department said Wednesday.
Overall sales likely pulled back from a December bump in holiday shopping online and at auto dealers, while Americans spent more than normally expected last month at clothiers, department stores, electronics outlets and sporting goods retailers.
Higher gas prices drove a 2.3 per cent sales increase at service stations last month. Gasoline prices climbed 7.8 per cent between January and December, according to a separate Labor Department report released Wednesday. The retail sales report does not adjust its figures for prices.
Purchases at restaurants and bars climbed 1.4 per cent. Building materials stores saw a slight 0.3 per cent gain.