Retail sales recovered last month following weak holiday spending. Retail sales rose 0.4% (5.8% y/y) during January after a revised no-change in December, initially reported as a 0.1% uptick. Consensus expectations had been for a 0.7% rise according to Action Economics. January sales were held back by an unexpected decline in auto sales. Nonauto sales rose 0.7% last month after a 0.5% December decline, revised from -0.2%. Consensus expectations had been for a gain of 0.5% in nonauto sales.

Motor vehicle sales fell a surprising 1.1% (+7.3% y/y). It was unexpected since unit motor vehicle sales for January, reported earlier this month, rose 4.6% m/m. Price discounts may have lowered the dollar value of sales. Sales at gasoline service stations rose 1.4% (7.4% y/y). When adjusted by Haver Analytics seasonal factors, gasoline prices rose 0.3% m/m (9.3% y/y). Excluding both autos and gasoline, retail sales rose 0.6% last month (4.7% y/y) after a 0.3% December decline.

Sales at food & beverage stores rose 1.3% (4.3% y/y). Building materials sales ticked up just 0.2% (8.1% y/y) but purchases of other discretionary items again were mixed. Sales of furniture, home furnishings & appliances rose 0.2% (3.3% y/y) following a 1.8% December drop. General merchandise store sales rose 2.0% (5.8% y/y) after December's 0.7% decline. Sales at clothing & accessory stores were unchanged (5.3% y/y) following two months of moderate increase. Sales by nonstore retailers fell 1.1% (+4.9% y/y). Finally, restaurant sales rose 0.6% (8.2% y/y).

The retail sales figure are available in Haver's USECON database. The Action Economics figures are in the AS1REPNA database.