Consumer Behavior

Consumers still engaged, claims Census data

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February 28, 2024

While retail sales chilled a bit in January, households continue to spend, according to U.S. Census Bureau, and that data reveals consumers are "still engaged."

That's the viewpoint of Jack Kleinhenz, chief economist at the National Retail Federation which released the Census retail sales data and the organization's assessment in a press release.

January's core retail sales as defined by NRF — based on the Census data but excluding automobile dealers, gasoline stations and restaurants — were down 0.8% from December but up 2.8% year over year.