Retail sales rise for fourth straight month in January, CNBC/NRF Retail Monitor shows
Retail sales rose for a fourth consecutive month in January, posting moderate monthly growth and strong gains compared with a year earlier, according to data released by the CNBC/NRF Retail Monitor.
Total retail sales, excluding automobile dealers and gasoline stations, increased 0.2% seasonally adjusted from December and were up 5.72% unadjusted year over year, the report said. That followed a 1.26% monthly gain and a 3.54% annual increase in December.
Core retail sales, which also exclude restaurants, rose 0.15% month over month in January and were up 5.51% from a year earlier. In December, core sales had increased 1.6% from the previous month and 3.58% year over year.
“Consumers demonstrated continued resilience in January, showing moderate spending growth on the heels of record-high spending during the holiday season,” NRF President and CEO Matthew Shay said. “This was the fourth consecutive month that sales rose from the month before, and year-over-year gains were particularly strong. Consumer spending continues to drive the broader economy forward, supported by healthy household finances and real wage gains that have increased purchasing power. Retailers are doing their part by leveraging supply chains and new technologies to ensure that products remain affordable for American families.”
January’s results follow a record-breaking November-December holiday season, which grew 4.1% year over year based on Retail Monitor data released last month.
The Retail Monitor uses anonymized credit and debit card purchase data compiled by Affinity Solutions, rather than survey-based data collected by the U.S. Census Bureau. As a result, the figures do not require monthly or annual revisions.
On a yearly basis, sales increased in eight of nine retail categories in January. Clothing and accessories stores led gains, rising 0.23% from December and 9.39% from a year earlier. Digital products, including electronic books and games, were up 1.22% month over month and 6.45% year over year. Health and personal care stores rose 0.66% from December and 5.98% from January 2025.
General merchandise stores dipped 0.05% for the month but were up 5.46% year over year. Grocery and beverage stores increased 0.37% month over month and 5.41% annually.
Sporting goods, hobby, music and book stores fell 0.37% from December but rose 4.94% from a year earlier. Electronics and appliance stores declined 0.18% month over month and increased 2.54% year over year. Furniture and home furnishings stores dropped 0.31% for the month but were up 2.39% annually. Building and garden supply stores were down 0.15% month over month and 6.26% year over year.
