Updated: 17-Feb-21 10:10 ET

January Retail Sales

Updated: 17-Feb-21 10:10 ET

Highlights

• January retail sales surged 5.3% month-month (Briefing.com consensus +0.8%), aided by the receipt of stimulus checks and pent-up spending activity, and more than neutralized the downward revision for December to -1.0% from -0.7%.
• Excluding autos, retail sales soared 5.9% month-over-month (Briefing.com consensus +0.7%) and more than neutralized any disappointment that might have been attached to the downward revision for December to -1.8% from -1.4%.

Key Factors

• Motor vehicle and parts dealers sales increased 3.1% after a 2.0% increase in December.
• Gasoline station sales rose 4.0% after increasing 6.5% in December.
• Furniture and home furnishing store sales soared 12.0% after declining 0.7% in December.
• Electronics and appliance store sales surged 14.7% after dropping 6.5% in December.
• Nonstore retailer sales increased 11.0% after falling 7.3% in December.
• Food services and drinking store sales jumped 6.9% after declining 4.6% in December.
• General merchandise store sales rose 5.5%, with department store sales skyrocketing 23.5%.

Big Picture

• The key takeaway from the report is that sales were up solidly across every retail category, offering an early sign of the added spending -- and economic recovery -- potential that is wrapped up in another round of proposed stimulus checks.

Category	JAN	DEC	NOV	OCT	SEP
Retail Sales	5.3%	-1.0%	-1.3%	-0.1%	1.7%
Excluding Autos	5.9%	-1.8%	-1.2%	-0.2%	1.4%
Durable goods
Building Materials	4.6%	-0.1%	1.4%	-0.1%	0.4%
Autos/parts	3.1%	2.0%	-1.6%	0.1%	3.1%
Furniture	12.0%	-0.7%	-1.7%	-0.2%	0.1%
Nondurable goods
General Merchandise	5.5%	-1.8%	-1.1%	-1.4%	3.2%
Food	2.4%	-1.4%	1.5%	-0.7%	0.0%
Gasoline stations	4.0%	6.5%	-1.7%	0.0%	1.8%
Clothing	5.0%	2.6%	-6.1%	-3.6%	15.4%
e*retailing/non-store	11.0%	-7.3%	-1.6%	2.0%	-2.0%