Robust Sales Report Could Foretell Strength to Come
Retail sales came back in a big way last month. That came about both despite the rise of the Omicron variant and because of it.
The Commerce Department on Wednesday reported that retail sales rose a seasonally adjusted 3.8% in January from December, far better than the 2.1% bounce economists expected to see. Even after factoring in downward revisions to December sales figures, it was a very solid report.