Online Retail

Retail sales get a boost online

(CNNMoney.com) — Retail sales rose in January, driven by strength in discount retailers and online merchants, according to a government report Friday.

The Commerce Department said total retail sales edged up 0.5% to $355.8 billion last month, compared with December’s revised decline of 0.1%. Economists surveyed by Briefing.com had anticipated that January sales would grow 0.3%.

The year-to-year increase was more impressive. January retail sales jumped 4.7%, compared to the same month in 2009.

Consumer spending accounts for two-thirds of U.S. economic activity, and related reports such as retail sales are used to gauge whether a recovery is underway.

Sales excluding autos and auto parts rose 0.6% last month. A consensus of economists had projected ex-auto sales to rise 0.5% in January.

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