US Retail sales fell 0.8% in January for the second consecutive month, due to lower gasoline prices.
According to the Department of Commerce, the decline in US sales was due to a 9.3% decline in service stations sales, which was the biggest drop since 2008.
&limit=1&orderby=random’]Meanwhile, retail sales fell 1% compared to December, but increased by 2.4% compared to the same month in 2014.
The largest decline in retail sales was recorded at gas stations, where it fell 9.3% in the previous comparison and 23.5% compared to January 2014. The drop in sales is deeper than expected by analysts, who estimated a decline of about 4/10.
Sales fell in 6 of the 13 categories analyzed by the Department of Commerce, with a significant reduction of 0.5% in vehicles.
Moreover, online sales, restaurants and electronics improved, while the indicator excluding vehicles and gasoline remained basically unchanged.
Sales of building materials and garden equipment rose 0.6%, probably driven by preparations before a snowstorm in the Northeast United States.
However, the Department of Commerce said retail sales rose by 3.3% compared to the same month in 2014, while in the period between November and January rose 3.8% compared to a year ago.
In addition, the Department of Commerce maintains its preliminary estimate of December retail sales, when they fell 0.9% from November.