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by Calculated Risk on 2/15/2023 08:39:00 AM
On a monthly basis, retail sales were up 3.0% from December to January (seasonally adjusted), and sales were up 6.4 percent from January 2022.
From the Census Bureau report:
Advance estimates of U.S. retail and food services sales for January 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $697.0 billion, up 3.0 percent from the previous month, and up 6.4 percent above January 2022.
emphasis added
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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 up 3.2% 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 6.8% on a YoY basis.
Sales in January were well above expectations, however, sales in November and December were revised down, combined.
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