by Calculated Risk on 2/15/2024 08:35:00 AM

On a monthly basis, retail sales were down 0.8% from December to January (seasonally adjusted), and sales were up 0.6 percent from January 2023.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for January 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $700.3 billion, down 0.8 percent from the previous month, and up 0.6 percent above January 2023. ... The November 2023 to December 2023 percent change was revised from up 0.6 percent to up 0.4 percent.
emphasis added

Click on graph for larger image.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

Retail sales ex-gasoline was down 0.8% in December.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Retail and Food service sales, ex-gasoline, increased by 1.4% on a YoY basis.

The decrease in sales in January was below expectations, and sales in November and December were down.