Retail sales surge at start of 2023 a clear sign economy continues to grow

Written by Washington Retail for Inside Washington Retail

Retail sales increased in January as job and wage growth and easing inflation encouraged spending, but strong spending complicates Fed’s fight to tame inflation.

A 3 percent increase in sales with U.S. retailers in January is the most significant increase in nearly two years. This number reflects the strength of the economy as the sales had been forecast to increase by 1.9 percent, according to a Wall Street Journal poll of economists.

Excluding sales of auto dealers and gasoline stations, the receipts increased 2.6 percent, which is still a strong number, which could increase pressure on the Federal Reserve to continue raising interest rates to tame inflation.

In an interview on CNBC, NRF President and CEO Matthew Shay said, “We have very resilient consumers. People are out there spending, and in spite of what they know, and they tell us about concerns regarding inflation, they’re still finding a way to get out there to spend.”

History of Longview - Museum First Thursday

Learn a little about Longview’s start and some of its most prominent landmarks at a free First Thursday Speakers Event April 6 at 7 p.m. at the Cowlitz County Historical Museum, 405 Allen St., Kelso.

The First Thursday Speaker Series occurs on the first Thursday of most months.

Admission is free.

Also at the Cowlitz County Historical Museum, the Columbian Artists Association will present its 45th annual Spring Art Show, March 25-April 15 from 10 a.m. to 4 p.m.

The event will feature artist Eileen Thompson. Admission is free. There will be an opportunity to purchase original art from local artists.

For more information visit the website, columbianartists.org or the Facebook page, columbianartists/longviewwa