Warm Weather Boosts January Spending
02/15/2023
After two months of soft headlines, U.S. retail sales were generally expected to rebound in January. As it turned out, (seasonally-adjusted) consumer spending rose at the strongest pace in nearly two years. Total sales unexpectedly jumped +3.0% last month, well above the +2.0% forecast and an abrupt turn following declines of -1.1% in both November and December.