US' retail sales experience slight decline in January 2024

18 Feb '24

1 min read

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Insights

January 2024 saw US retail trade sales decline by 1.1 per cent from December 2023 and 0.2 per cent year-on-year, as per US Census Bureau.
However, non-store retailers experienced a 6.4 per cent increase from last year.
Overall retail and food services sales were $700.3 billion, down 0.8 per cent from the previous month but up 0.6 per cent from January 2023.

US’ retail trade sales in January 2024 dropped by 1.1 per cent from December 2023 and were 0.2 per cent lower than the same month last year, according to the advance estimates of the US Census Bureau.

Despite the overall decrease, non-store retailers bucked the trend with a significant increase of 6.4 per cent from the previous year, showcasing the continued growth and resilience of digital commerce.

The advance estimates for US retail and food services sales, adjusted for seasonal variation, holiday, and trading-day differences, but not for price changes, stood at $700.3 billion in January 2024. This represents a decrease of 0.8 per cent from December 2023, yet it marks a slight increase of 0.6 per cent from January 2023, as per the census bureau.

Looking at the broader November 2023 through January 2024 period, total sales saw a more positive outlook, increasing by 3.1 per cent compared to the same period a year ago. Additionally, the sales change from November 2023 to December 2023 was revised from an initial estimate of a 0.6 per cent increase to a slightly lower 0.4 per cent.

Fibre2Fashion News Desk (DP)

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