Retail Up, Hopes Not

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
min read

retail-up-hopes-down.jpgContrary to other reports, the U.S. Commerce Department today reported that the nation's retail sales actually rose 1 percent last month compared to December. Sales for January--reported to be $344.6 billion--were actually down 9.7 percent compared to the first month of 2008, however.

Still, some good news was seen in car and auto parts sales (up 1.8 percent month-over-month), electronics and appliances (up 1.6 percent), clothing (1.6 percent), groceries (2.2 percent) and gas (2.6 percent). Experts told the New York Times that the increases were a result of the retail sector having hit a new low in December. They also stated that consumers were taking advantage of post-holiday sales and bankruptcy closeouts. There was some speculation that the February numbers could dip again.

More from Entrepreneur

We created the SYOB course to help you get started on your entrepreneurial journey. You can now sign up for just $99, plus receive a 7-day free trial. Just use promo code SYOB99 to claim your offer.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur