print-icon

Core Retail Sales Surge At Record Pace Amid "Blockbuster" January Report

Tyler Durden's Photo
by Tyler Durden
Wednesday, Feb 17, 2021 - 8:38

After three months straight of disappointing declines in retail sales, analysts expected a rebound in January data (with BofA calling for a "blockbuster" report):

And BofA was right - in fact it was even more blockbustery!! Headline retail sales surged 5.3% MoM (against expectations of a 1.1% rise), liftiung the YoY rise to +7.4% - the highest since September 2011...

Source: Bloomberg

The surge erased all of the dip from the last three months...

Source: Bloomberg

Furniture, Electronics, and non-store retailers (e.g. Amazon) all saw sales surge...

This led to the biggest YoY rise in core retail sales (up 11.8%) in history...

Source: Bloomberg

Transitory, Mr. Powell?

0