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Retail sales surge 3.8% in January, the highest month-over-month jump since March

Tuesday, Feb 22, 2022

US retail sales have surged for yet another month as consumers ramp up their spending. From December to January, retail sales jumped 3.8%, according to the US Census Bureau

While there have been steady increases month-to-month, last month’s surge was the highest percentage in almost a year. Consumer spending remains fast-moving, even after stimulus money has faded. 

Retail sales rose across multiple categories in January. Sales increased 3.6% at general merchandise stores, and 9.2% at department stores, Purchases at furniture and home furnishings stores rose 7.2%. 

January’s report comes as major retailers release their Q4 financial standings – a notion that most of these reports will showcase similar numbers. 

Trends show that job growth is steady, which means American pay rates are rising enough to drive a healthy pace of spending. Leasing activity for retail spaces has also grown significantly in the last month. 

Source: US Census Bureau, US News – January Sales

Photo Credit: US News – January Sales

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