Retail Sales Growth Picked Up In January After A Sharp Fall In December

By Robert Hughes Retail sales and food services rose 0.2 percent in January following a sharp 1.6 percent decline in December. Over the past year, they are up 2.3 percent, ahead of the 1.6 percent 12-month change through December (see chart). Retail sales and food services have been broadly trending higher since late 2015, when…