Home / Knowledge / News / Apparel/Garments / Severe winter weather cripples US January retail sales
Severe winter weather cripples US January retail sales
14
Feb '14
Consumers leveled off post-holiday shopping and spending in the beginning of the year due in part to severe winter weather in much of the country. According to the National Retail Federation – the world largest retail trade association – January retail sales, excluding automobiles, gas stations and restaurants, were flat seasonally adjusted month-to-month yet increased 3.0 percent unadjusted year-over-year.
 
“Following a solid holiday sales season, it seems that many consumers decided to take a break from the stores and shopping malls this January in an attempt to avoid winter weather,” NRF President and CEO Matthew Shay said. “While the dip in retail sales was somewhat anticipated, it is concerning that both jobless claims came in above projections and that consumer spending were flat in January – it’s not the way to kick off a new year.
 
“Even though policymakers decided wisely to increase the debt ceiling this week so the nation would not default on its obligations, more can be done to spur consumer confidence and spending and employment and economic opportunity.”
 
January retail sales, released today by the U.S. Census Bureau, which include categories such as automobiles, gasoline stations, and restaurants, decreased 0.4 percent seasonally adjusted month-to-month yet increased 2.6 percent adjusted year-over-year.
 
“Harsh winter weather is masking the performance of the broader economy,” NRF Chief Economist Jack Kleinhenz said. “Extreme temperatures and severe ice and snow are making it increasingly difficult to assess if the retail sales slowdown is temporary or a telling sign of a longer lasting weakness in the consumer-fueled economy. No one can jump to any solid conclusion until we shovel out of the snow.”
 
Earlier this month, NRF released its annual economic forecast projecting a 4.1 percent increase in retail sales in 2014.
 
Other findings from the January retail sales report include:
- Clothing and clothing accessories stores' sales decreased 0.9 percent seasonally-adjusted month-to-month yet increased 1.4 percent unadjusted year-over-year.
- Furniture and home furnishing stores’ sales decreased 0.6 percent seasonally-adjusted month-to-month and 2.1 percent unadjusted year-over-year.
 

National Retail Federation


Must ReadView All

Ghana to be top African apparel manufacturing hub: Minister

Apparel/Garments | On 22nd Nov 2017

Ghana to be top African apparel manufacturing hub: Minister

Ghana will turn Africa’s leading apparel manufacturing hub after the...

Maintain NAFTA trucking provisions: AAFA, US trade bodies

Apparel/Garments | On 22nd Nov 2017

Maintain NAFTA trucking provisions: AAFA, US trade bodies

The American Apparel & Footwear Association (AAFA) recently joined...

Vietnam’s textile & garment exports cross $24bn till Oct

Textiles | On 22nd Nov 2017

Vietnam’s textile & garment exports cross $24bn till Oct

Vietnam earned $24.372 billion from textile and garment exports in...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search