US Retail Sales Jump in January
US retail sales posted a 5.3% increase in january
Skerdian Meta•Wednesday, February 17, 2021•1 min read
Retail Sales started softening in the US from August, during the post-coronavirus jump, and they turned negative in November and December. That looked strange, since November is the Black Friday month, and Christmas is in December. But they posted a strong jump in January, as shown in Today’s report, which you will find below.
US January 2021 retail sales report
- January advance retail sales +5.3% vs +1.1% expected
- Prior was -0.7% (revised to -1.0%)
- Retail sales ex auto +5.9% vs +1.0% expected
- Retail sales ex auto and gas +6.1% vs +0.8% expected
- Retail sales control group +6.0% vs +1.0% expected
Prior numbers and revisions
- December retail sales ex auto revised to -1.8% from -1.4%
- November retail sales ex auto and gas revised to -2.5% from -2.1%
- November retail sales control group revised to -2.4% from -1.9%
There were huge beats on retail sales. Those stimulus checks work! There were some minor negative revisions to the prior figures, but they were eclipsed by the big beats on the headline.
What does that mean for stimulus prospects? What will it mean for growth/inflation when those $ 1,400 checks come? How is the Fed going to react?
The dollar likes it, but there’s a bit of ‘good-news-is-bad-news’ on the equity front.
Digging deeper into the report, total US retail sales for the Nov-Jan period were up 4.6% from the same period a year ago.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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