Motor vehicle sales registered an increase of 0.9 percent on year. There was an upward revision in December sales to 1.0% from the originally reported rise of 0.6%.
US retail sales rose more than expected in January as households bought electronics and a range of other goods, pointing to sustained domestic demand that should bolster economic growth in the first quarter.
In a report, the U.S. Commerce Department said that retail sales rose 0.4% in January from the prior month, compared to expectations for a 0.1% increase.
Economists polled by Reuters had forecast retail sales ticking up 0.1 percent and core sales gaining 0.3 percent last month.
Sporting goods stores' sales increased 1.8%, and sales at health and personal care stores increased 0.7%. Retail trade sales alone increased 5.6% from a year ago, helped by double digit gains for non-store retailers and gasoline stations. The surge, pointing to a sustained domestic demand and improving economic prospects, will likely reflect economic growth in the first quarter, analysts say.
Earnings History of Cisco Systems, Inc. (NASDAQ:CSCO)
Similarly, first quarter service provider orders were down 12 percent versus 6 percent growth in the same quarter previous year . As far as the numbers go, Cisco is reporting revenue of $11.6 billion down slightly from this time a year ago ($11.9 billion).
On a monthly basis, retail sales slid 1.9 percent from November, when it showed no variations.
Sales at clothing stores hiked 1 percent, the biggest jump in nearly a year. But online transactions remained flat, after soaring 1.9 percent in December.
Purchases at restaurants and bars climbed 1.4 percent.
Beyond motor vehicles, retail spending in January was mostly higher. As a result, economists expected a healthy rebound in January.