Retail Up, Hopes Not

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

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
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.
Starting, buying, or growing your small business shouldn’t be hard. Guidant Financial works to make financing easy for current and aspiring small business owners by providing custom funding solutions, financing education, and more.

Latest on Entrepreneur