Breaking: Retail Sales in US surge by 5.3% in January vs. 1% expected

Eren Sengezer FXStreet

Retail Sales in the US surged by 5.3% in January to $568.2 billion, the data published by the US Census Bureau showed on Wednesday. This reading followed December's decline of 1% and surpassed the market expectation for an increase of 1% by a wide margin.

"Total sales for November 2020 through January 2021 period were up 4.6% from the same period a year ago," the publication further read. "Retail trade sales were up 5.1% from December 2020, and 10.8% above last year.

Market reaction

The US Dollar Index edged slightly higher and was last seen gaining 0.42% on the day at 90.90.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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