Newsroom
Retail sales decrease in January
Severe weather contributed to weaker sales in the automotive and housing-related sectors in January and led to a 0.4 percent decrease in total retail sales for the month, according to NAFCU Senior Economist Curt Long.
Long, analyzing data published by the Census Bureau in a NAFCU Macro Data Flash report, said December and November retail sales data was also revised downward, adding to the disappointing January report. December's retail sales numbers were revised to a decrease of 0.1 percent.
However, Long said, rising fuel prices increased sales at gasoline stations in January. "Total retail sales growth has varied throughout the year as different segments led sales each month," he said. "Retail sales are expected to build some momentum next year as the fiscal drag recedes and the economy strengthens."
January's retail sales data also showed:
- Core retail sales – excluding light vehicles and gasoline – decreased by 0.2 percent for the month, while retail sales of auto and gas decreased 0.9 percent for the month.
- Year-over-year growth in retail sales was 2.6 percent in January. The December number was revised to 3.6 percent growth.
- Core retail sales increased by 2.4 percent from a year ago in January, while auto and gas increased by 3 percent from a year ago.
Share This
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape. Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans. Don’t miss out on the opportunity to learn how to: Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response. Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met. Implement and utilize tabletops to regularly test the effectiveness of your IR plan. Enhance preparedness, efficiency, and confidence among responders. View On-Demand Web NAFCU digital@nafcu.org America/New_York public
Mastering Resilience in Incident Response Plans
preferred partner
DefenseStorm
Webinar
Get daily updates.
Subscribe to NAFCU today.