Menu Close
Posted in Other Guys

Fueled by Stimulus Checks, U.S. Retail Sales Burst Into 2021

This is a syndicated repost courtesy of Statista | Infographics. To view original, click here. Reposted with permission.

After a disappointing holiday season, U.S. consumer spending picked up steam in January 2021, as retail sales jumped 5.3 percent from the December total on a seasonally adjusted basis. According to advance estimates published by the U.S. Census Bureau on Wednesday, retail and food services sales amounted to $568.2 billion in January, as consumers flocked to stores to spend their $600 stimulus checks. The January spending spree puts retail sales above January 2020 levels, although it needs to be noted that some retailers are still far off their pre-pandemic trajectory.

Due to the widespread lockdown instated to contain the spread of COVID-19, retail sales had plunged 14.7 percent in April, following an already unprecedented 8.2 percent drop in March. To put this in perspective, the highest drop prior to March 2020 had occurred in November 2008, when retail sales declined by less than 4 percent at the height of the financial crisis. As the following chart shows, retail sales have very rarely dipped significantly in the past, with the financial crisis being the most notable exception of the past three decades.

This chart shows monthly retail and food services sales in the U.S. since 1992.

Monthly retail sales in the United States

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

Related Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.