Retail sales surge in January as Omicron fades and Americans step up spending
CBSN
Americans picked up the pace of their spending in January as the threat of Omicron coronavirus variant faded and supply-chain shortages eased for some consumer goods.
Retail sales surged a seasonally adjusted 3.8% last month, whizzing past the projections of most economists. That compared to the prior month, when sales slid 2.5%, according to revised figures released Wednesday by the U.S. Commerce Department.
Surging inflation likely pumped up the spending numbers further in January.
Five people boarded OceanGate's Titan submersible last summer to dive down to see the wreckage of the Titanic, but less than two hours later, the vessel imploded, killing all on board. Now, a billionaire from Ohio wants to make his own attempt – an idea he had just days after the Titan met its fatal end.
Authorities made two gruesome discoveries Tuesday after a Missouri woman walked into a police station and told officers that she fatally shot one of her children and drowned the other, officials said. Jefferson County Sheriff Dave Marshak said at a news conference that authorities believe both children were killed Tuesday morning.