US retail sales jump in January as recovery gains traction

Washington (AFP) – US shoppers resumed spending in January, the first increase since September and another sign of growing optimism as President Joe Biden works to win approval for his $1.9 trillion economic stimulus plan. The size of the package has raised some concerns it could reignite inflation, which has been absent from the economy for the past year. Those fears could be reinforced by a surprise surge in producer prices last month, but officials argue the economy needs the jolt amid the Covid-19 pandemic. The final size of the stimulus could shrink as the plan makes its way through congr…

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