A retail trade survey, released Wednesday by the Census Bureau, estimates that monthly retail and food services sales totaled $568.2 billion—up from $539.7 billion in December. “Retail sales surged in January thanks to additional government stimulus,” says Ted Rossman, credit card analyst at Bankrate.com. “While retail sales were strong this month,” says Deborah Weinswig, chief executive officer and founder of Coresight Research, a global advisory and research firm, specializing in retail and technology. The monthly surveys mail questionnaires to a sample of about 5,500 retail and food services firms, whose sales represent over three million retail and food services firms. Retail trade sales were up 5.1% from December, and 10.8% above last year.

Source: Forbes February 17, 2021 23:16 UTC