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Thursday, Jun 1, 2023

Auto Sales Drag Down Retail Stats

Weak auto sales dragged down the retail sector in the month of January. Preliminary figures released by the Commerce Department reveal that retail sales overall rose 2.3 percent over the year ago period, with non-store, Internet retailers showing the strongest performance, an 8.4 percent increase over last year. Motor vehicle sales declined 1.7 percent in January compared to 2006, offsetting the gains made by general merchandise stores, which registered a 5.6 percent gain based on the preliminary data.

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