The month of January turned out to be difficult for various sales in the USA: they decreased significantly more than analysts expected. Economic analysts and specialists suggest that this is primarily related to the worsening situation in the labor market due to the COVID-19 pandemic. The number of negative factors, including limitations on mobility and the lack of goods, also affected supply and, as a consequence, sales volume.
Official statistics showed that retail sales in January fell by 1.9 percent, whereas analysts had predicted a decrease of only 0.1 percent. At the same time, despite the overall downward trend, some product categories still showed an increase in demand. Mainly, these are food and beverage products, as well as household goods.
Analysts highlight that consumers have started to spend less due to uncertainty and limitations associated with the pandemic. Many companies are experiencing difficulties due to falling sales, which is also affecting the labor market. Retail sales hold key importance for the economy and consumer demand, therefore their further recovery will be an important step on the path to economic recovery in the post-pandemic period.
