Headline Retail Sales Dragged Down by Gas, but Ex-Auto Ex-Gas Figure More Encouraging

Summary

January’s retail sales disappointed to the downside, falling 0.8% for the month after a 0.9% drop in December. Auto sales fell more than 1.0% for the second straight month, weighing on the headline figure. Excluding autos, retail sales declined 0.9%, with sales at gasoline stations down 9.3% for the eighth consecutive month

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