Economics
U.S. Retail Sales Rise Most in 10 Months in Broad-Based Rebound
- Total value of receipts jumps 3.8% after dropping in December
- Non-store retailers, furniture and autos among biggest gains
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U.S. retail spending roared back to life at the start of the year, surging by the most in 10 months and highlighting a steady appetite for merchandise like cars and furniture.
The value of overall purchases rose 3.8% in January after a downwardly revised 2.5% drop in the prior month, Commerce Department figures showed Wednesday. The advance was nearly double the median estimate of 2%.