NEW YORK (AP) – The $600 stimulus checks got Americans shopping again. After three months of declines, retail sales soared a seasonally adjusted 5.3% in January from the month before, the U.S. Commerce Department said Wednesday. It was the biggest increase since June and much larger than the 1% rise Wall Street analysts had expected.
The $600 stimulus checks, sent out at the end of last year, seems to have pushed people to buy new furniture, clothing and appliances.
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Wednesday’s report covers about a third of overall consumer spending. It doesn’t include haircuts, hotel stays and other services, which have been badly hurt by the pandemic.
Joseph Pisani is an AP retail writer.
