Hardware Retailing The Industry's Source for Insights and Information
Retail sales saw a moderate monthly increase and strong year-over-year gains in January, according to the CNBC/NRF Retail Monitor.
“Consumers demonstrated continued resilience in January, showing moderate spending growth on the heels of record-high spending during the holiday season,” says Matthew Shay, NRF president and CEO. “This was the fourth consecutive month that sales rose from the month before, and year-over-year gains were particularly strong. Consumer spending continues to drive the broader economy forward, supported by healthy household finances and real wage gains that have increased purchasing power. Retailers are doing their part by leveraging supply chains and new technologies to ensure that products remain affordable for American families.”
Total retail sales were up 0.2% seasonally adjusted month over month and up 5.72% unadjusted year over year in January, compared to increases of 1.26% month over month and 3.54% year over year in December.
January’s results follow a record-breaking November through December holiday season, which grew 4.1% year-over-year based on Retail Monitor data released last month.
Sales in the building and garden supply stores were down 0.15% month over month, seasonally adjusted and down 6.26% year over year, unadjusted.
