Why January’s Blowout Retail Sales Report Matters

January’s U.S. retail sales report showed a 5.3% gain, the third-largest month-over-month increase on record, trailing only the booming numbers seen in June and July, as states opened up after nationwide shutdowns because of the coronavirus pandemic. January’s big number was more impressive because it was 7.4% higher than in January 2020, whereas on a year-over-year basis both June and July’s reports were below their commensurate 2020 figures. Read more at Axios.