Retail Sales Rebound

Retail sales rebound in January. US retail sales rose 5.3% month over month in January according to the US Census Bureau, ahead of Bloomberg consensus forecasts of 1.1%. The surge in retail sales was the highest in seven months, a strong response following December’s 1% decline as fresh stimulus checks helped spur consumer demand following the headwinds caused by rising COVID-19 cases at the end of 2020. Further, strong January retail sales should remove much of the risk for the US economy to stall in the first quarter of 2021. Read more