U.S. Retail Sales Rose Strongly on Stimulus in January
The U.S. economy’s recovery picked up as consumers used stimulus checks to boost retail spending in January to its largest increase in seven months, a significant jump that comes as manufacturers continued to increase output and employers resumed hiring.
The latest positive signs came on Wednesday when the government said retail sales, a measure of purchases at stores, at restaurants and online, jumped a seasonally adjusted 5.3% in January from a month earlier, and manufacturing output neared pre-pandemic levels.
“Consumer spending is firing on all cylinders,” said James Knightley, an...