US Retail Sales Experience a Notable Decline in January

According to the latest report from the US Census Bureau, seasonally adjusted advance estimates of retail and food services sales in the United States witnessed a significant monthly decrease of 0.9%, totaling $723.9 billion in January. Despite this monthly dip, the sector saw an encouraging year-over-year growth of 4.2%.

Quarterly and Yearly Sales Trends

For the quarter ending in January, total sales experienced a 4.2% increase compared to the same period last year. However, retail trade sales faced a 1.2% month-over-month decline, despite a 4% rise year-over-year. Notably, motor vehicle and parts dealers saw a significant surge of 6.4% compared to the previous year, while food service and drinking places enjoyed a 5.4% increase from January 2024.