Critical January Retail Sales Report Comes Right In Line With Expectations

The headline number climbed 0.1 percent, which was right in line.

Excluding autos and gas, retail sales climbed by 0.2 percent. This was a bit lighter than the 0.4 percent growth expected.

This report is being carefully scrutinized as it is the first reading of how the recent payroll tax hike may have impacted consumer spending.

Everyone is likely breathing a sigh of relief as the report didn't come in much worse than expected.

It's worth noting that economists weren't expecting an all-out decline thanks to seasonal factors like holiday gift card spending.

Here's a breakdown of the numbers via the Census: