U.S. retail sales jumped 1 percent in January, reversing a six-month declining trend and defying economists' expectations by posting the biggest increase in 14 months.
The Commerce Department says January retail sales rose a percent from December after having fallen for six straight months. Wall Street economists surveyed by Thomson Reuters had expected January sales to show a drop of 0.8 percent....
The January report shows strong increases in sales of automobiles and in general merchandise stores — the "big box" outlets — though sales by department stores, carrying fewer varieties of items, posted a decline.
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