Retail Sales Rose Strongly in January, Driven by Stimulus

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A little jump start. Yes, big jump start here in January, Sales were up 5.3% compared with December If you look at it year over year, the increase is a stunning 10.8%. This reversed three straight months of declines, and in every single category consumer spent more in January than they did in December and January is normally slow for retailers, isn't it? That's exactly right. Yeah, It was kind of upside down this year because the fourth quarter, which is usually filled with holiday spending was actually down. And then we saw this big snap back in January. I think almost all of it can be attributed to stimulus. But the good news is how broad based it wa so it wasn't just the work and play from home theme. I mean, yes, that did well, Elektronik. Appliance stores, furniture AECOM Merce. All that stuff did really well, but food services and drinking place is basically a proxy for bars and restaurants. That was up 7% in January. Department stores were way up clothing retailers these air some sectors that have really been struggling, and they started to turn it around last month department stores, especially, that's a great boost for them. On Dove course with the pandemic. Continuing. This is kind of it seems like going against the grain and spending despite that, right now, with consumers stimulus again is a big part of it. But I'm increasingly optimistic moving forward because we're probably going to get another round of stimulus here within the next month or so. Tax refunds will soon be arriving for the bulk of Americans. And then we have the improving virus picture vaccines getting out there more frequently. We see the cases, the hospitalizations. The deaths. Declining, so that's all good news. I think you throw warmer weather in there and just two more progress all around. I think we could be looking at a significant gain here in the months to come. That would be great news. Indeed. Thanks as always, for your analysis, That's Ted Rothman from bankrate dot com. Some financial experts are claiming the risk of overheating, the

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