Retail sales in the U.S. rose by less than expected in the month of January, according to a report released by the Commerce Department on Tuesday, with a drop in auto sales partly offsetting notable increases in sales in other segments.
The report showed that retail sales rose by 0.4 percent in January, while revised data showed that sales were unchanged in December. Economists had expected sales to increase by 0.7 percent compared to the 0.1 percent increase that had been reported for the previous month.
Excluding a 1.1 percent drop in sales by motor vehicle and parts dealers, retail sales actually rose by 0.7 percent in January compared to a 0.5 percent drop in the previous month.
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