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Jan retail sales in US continue strong: NRF
28 Feb '18
1 min read
An improving economy kept January retail sales in the United States nearly as good as the holiday season show, dropping only 0.26 per cent seasonally adjusted from December, fuelling a healthy 5.4 per cent increase year-over year, according to the National Retail Federation (NRF). The numbers exclude automobiles, gasoline stations and restaurants.
This reflects a positive start to 2018 with a steady growth in consumer spending and a rise in employment and wage growth, an NRF press release quoted chief economist Jack Kleinhenz as saying. Tax cuts now being seen in their salaries will bring an added boost, he said.
NRF is forecasting that 2018 retail sales will grow between 3.8 per cent and 4.4 per cent over 2017.
Online and other non-store sales were up 13.2 per cent year-over-year in January and were unchanged from December. Clothing and clothing accessory stores were up 3.1 per cent year-over-year and up by 1.2 per cent from December seasonally adjusted. (DS)
This reflects a positive start to 2018 with a steady growth in consumer spending and a rise in employment and wage growth, an NRF press release quoted chief economist Jack Kleinhenz as saying. Tax cuts now being seen in their salaries will bring an added boost, he said.
NRF is forecasting that 2018 retail sales will grow between 3.8 per cent and 4.4 per cent over 2017.
Online and other non-store sales were up 13.2 per cent year-over-year in January and were unchanged from December. Clothing and clothing accessory stores were up 3.1 per cent year-over-year and up by 1.2 per cent from December seasonally adjusted. (DS)
Fibre2Fashion News Desk – India
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