Retail Sales Jump in January
Christopher Weber
Correspondent
Posted:
02/4/10
U.S. retailers reported better-than-expected sales during January but analysts say it remains to be seen if the rising numbers are a trend or just an echo from the holiday season spending glut, Reuters reported.
A survey of 29 major retailers compiled by Thomson Reuters found January sales rose 3.3 percent, nearly twice what analysts were expecting.
The numbers show a rebound from January 2009, when sales fell 5.7 percent, and follow a bigger-than-expected 2.9 percent jump in December, according to Reuters.
Industry experts worry the trend won't carry over for the full first quarter of 2010 because the high number of jobless Americans aren't spending.
A survey of 29 major retailers compiled by Thomson Reuters found January sales rose 3.3 percent, nearly twice what analysts were expecting.
The numbers show a rebound from January 2009, when sales fell 5.7 percent, and follow a bigger-than-expected 2.9 percent jump in December, according to Reuters.
Industry experts worry the trend won't carry over for the full first quarter of 2010 because the high number of jobless Americans aren't spending.
"The sustainability of January's retail results will depend entirely on the job market -- it won't hold if we stay at double-digit unemployment," said National Retail Federation Vice President Ellen Davis.