Economy

Retail sales expected to be strong in January, helped by stimulus checks

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A woman carries Nike shopping bags at the Citadel Outlet mall, as the global outbreak of the coronavirus disease (COVID-19) continues, in Commerce, California, December 3, 2020.

Lucy Nicholson | Reuters

Aided by government stimulus checks, consumers are expected to have boosted their spending in January, and the trend is likely to continue to gain momentum as more of the economy reopens.

Economists expect retail sales rose by 1.2% after a surprise 0.7% decline in December, according to Dow Jones. The January retail sales report is to be released at 8:30 a.m. ET Wednesday, and it is also expected to show sales rose 1% when excluding vehicles.

“I think the main narrative is that things turned…



Source cnbc.com

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