U.S. retail sales in January jumped 3 percent, blowing past the Dow Jones estimate of 1.9 percent, according to Commerce Department data.
Here's a quick breakdown:
- Excluding automobiles, retail trade sales increased 2.3 percent from December and 3.9 percent from the year before.
- Food services and drink sales skyrocketed 25.2 percent from the year before
- General merchandise sales were up 4.5 percent from the year before
In December, sales had fallen 1.1 percent, making for a disappointing holiday season. Sales totaled $697 billion in January, compared to $677 billion in December.