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U.S. Retail Sales Rise Most in 10 Months, Defying Omicron Woes -Breaking

by Mike Robinson

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© Bloomberg. Colma customers at the Tesla dealership. Photographer: David Paul Morris/Bloomberg

(Bloomberg). U.S. retail revenues jumped the most in 10 month in January. This is despite a year-end slump. 

Commerce Department data Wednesday showed that overall sales rose after a 2.5% decrease in December. The figures aren’t adjusted for inflation. 

According to a Bloomberg Survey, the median expectation was for a 2 % increase in retail sales over the preceding month.

The broad-based advance in sales underscores the resiliency of Americans’ demand for merchandise. Although the Covid-19 epidemic and associated omicron variant likely dampened spending on services in this month, consumers have continued to purchase furniture and cars even with decades of inflation and low confidence.

©2022 Bloomberg L.P.

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