- The Washington Times - Friday, February 12, 2010

WASHINGTON (AP) — Retail sales posted a better-than-expected increase in January, a welcome development that could mean stronger economic growth in coming months.

The Commerce Department said Friday that retail sales increased by 0.5 percent last month, the best showing since November and higher than the 0.3 percent increase economists had expected. Excluding autos, sales posted a 0.6 percent increase, also better than expected.

Strength in consumer spending is important because it accounts for 70 percent of economic activity. Economists are worried that the spending gains since last summer could falter given the tough times facing many U.S. households.


Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide