U.S. retail sales rise less-than-projected 0.4% for January; auto sales behind shortfall

WASHINGTON (MarketWatch)
Retail sales in the U.S. rose a seasonally adjusted 0.4% in January, mainly because of brisk business at department stores, general stores and bars and restaurants, the government reported Tuesday
Retail sales minus the auto sector climbed a stronger 0.7%
Economists surveyed by MarketWatch had forecast retail sales to rise 1.0% overall, or by 0.7% excluding autos
Sales for December were revised down from a 0.1% increase to "virtually unchanged
The sales increase for November was also revised down slightly
Although the annual rate of auto sales rose in January to the highest level in nearly three years, it appears that auto makers sharply discounted prices
Revenue from those sales fell to an estimated $71.7 billion in January from $72.5 billion in December, seasonally adjusted