The U.S. Census Bureau released the Retail Sales figures for January 2009 today. Adjusted for inflation and for seasonal variation, Retail Sales were up in January compared to December 2008 by 1.0% and down by 9.3% compared to a year ago. Economists were expecting a 0.8% drop compared to December. A large part of the gain in January from the previous month was due to downward revisions of previously reported figures. Retail Sales for December were revised downward this month by 0.6%.
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