Dan North's latest blog: US: Consumers went on an Unexpected Rampage in January
The US consumer came roaring back with a vengeance in January as retail sales sky-rocketed 5.3% m/m, far beyond expectations of 1.2%. It was the first gain after three consecutive months of losses.
Outside of the pandemic, it was the third-largest monthly gain ever, and it was the largest gain since October 2001, the month after the 9/11 attacks. Of the 15 categories reporting for December, there wasn’t a single decline. Read Dan North's blog today