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US Retail Sales Dropped In January As Weather, Weak Gas Prices Weigh
US Retail Sales Dropped In January As Weather, Weak Gas Prices Weigh
This morning's retail sales data is for January (still lagging due to the govt shutdown) and is expected to be a decline (BofA's omniscient analysts see a worse than consensus drop MoM, due in large part to weather disruptions).
The actual print was a decline but slightly better than expected at -0.2% MoM. Despite two months of no increase, sales rose 3.2% YoY in January (increased from December)
Source: Bloomberg
The decline was driven by a decline in sales at gas...
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