The U.S. Commerce Department reported this week that January retail sales unexpectedly fell compared with December as automobile sales slipped.
Sales were down 0.4 percent, Reuters reported on Feb. 13. Estimates for January called for a 0.2 percent increase in retail sales.
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The Commerce Department also revised December’s rate to a 0.1 percent decline from a previous 0.2 percent boost.
“Stripping out automobiles, gasoline, building materials and food services, so-called core sales fell 0.3 percent after rising by a downwardly revised 0.3 percent in December. Core sales correspond most closely with the consumer spending component of gross domestic product,” Reuters reported.
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