Core Retail Sales Surge At Record Pace Amid “Blockbuster” January Report

Zero Hedge

Core Retail Sales Surge At Record Pace Amid “Blockbuster” January Report

After three months straight of disappointing declines in retail sales, analysts expected a rebound in January data (with BofA calling for a “blockbuster” report):

And BofA was right – in fact it was even more blockbustery!! Headline retail sales surged 5.3% MoM (against expectations of a 1.1% rise), liftiung the YoY rise to +7.4% – the highest since September 2011…

Source: Bloomberg

The surge erased all of the dip from the last three months…

Source: Bloomberg

Furniture, Electronics, and non-store retailers (e.g. Amazon) all saw sales surge…

This led to the biggest YoY rise in core retail sales (up 11.8%) in history…

Source: Bloomberg

Transitory, Mr. Powell?

Tyler Durden
Wed, 02/17/2021 – 08:38 Read full article at Zero Hedge

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