Thursday, February 12, 2009

January 2009 retail sales up about 1 percent

Click to enlarge. Data via Calculated Risk.

The small rise is good news, but the above data-image shows the trend is still downward. The 1 percent rise is barely perceptible. Still, could it represent a shifting trend? The great blog at Calculated Risk argues no.

One month does not make a trend change, and January retail sales are still over 2% below sales in Q4 - suggesting a further decline in Q1 PCE.

Regarding the sales numbers, here is the NY Times report. And here is the government release.

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