Retail sales fall 0.8% in January from December as shoppers take a break after strong holiday season

By ANNE D’INNOCENZIO
AP Retail Writer

NEW YORK (AP) — Americans took a break from spending in January after splurging during the holiday season. Retail sales fell 0.8% from the strong pace in December when retail sales were up a revised 0.4%, according to the Commerce Department. Economists had expected consumers to pull back on spending late last year under the weight of credit card debt and delinquencies and lower savings. Yet despite those challenges, along with higher borrowing costs, tighter credit conditions and still high price increases, household spending had been been fueled by strong job and rising wages.