Retail sales surged 3.8% last month, the Commerce Department said today. Data for December was also revised down to show sales declining 2.5% instead of 1.9% as previously reported.
That likely resulted in the seasonal factors, the model used by the government to iron out seasonal fluctuations in data, being more generous than in previous years. Economists expect this boost to fade in March. Data for December was revised lower to show these so-called core retail sales falling 4% instead of 3.1% as previously reported.
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