Mumbai, Feb. 17 -- Partly reflecting a slump by auto sales, the Commerce Department released a report on Friday showing retail sales in the U.S. fell by much more than expected in the month of January.
The report said retail sales slid by 0.9 percent in January after climbing by an upwardly revised 0.7 percent in December.
The much bigger than expected decrease by retail sales partly reflected the sharp pullback by sales by motor vehicle and parts dealers, which tumbled by 2.8 percent in January after advancing by 0.9 percent in December.
However, excluding the plunge by auto sales, retail sales still declined by 0.4 percent in January after climbing by an upwardly revised 0.7 percent in December.
The pullback surprised economists, who ...