California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The U.S. Census Bureau released the advanced estimates of the U.S. retail and
food services sales for December, adjusted for seasonal variation and holiday
and trading-day difference, but not for price changes, were $355 billion a 0.5
percent over the previous month and a 4.7 percent increase over January 2009.

In addition, sales for November and December were revised upward adding to the
sense of strength in what typically is a poor performing month, specifically
right after holiday spending. November's sales were revised to a 2.0% gain from
the 1.8% previously reported, while December's sales were revised up two-tenths
of a percentage point to a 0.1% decline.

The bright spots for the month were increases in electronics and appliances along
with food and beverage stores and in health and personal care stores. Sales in
general merchandise rose 1.5 percent for the month, the largest monthly gain since
February 2009. Decreases were seen in home furnishings and building material and
garden supply stores.

I am Tim Johnson and this has been the California Business Minute.