US retail sales edge higher in January

US retail sales rose modestly for the third straight month in January despite falling gasoline prices, the Commerce Department reported Friday. Retail sales totaled $449.9 billion in January, up 3.4 percent from a year ago, according to the data that is not adjusted for price changes. The January and December growth numbers were suggest "consumer spending may not be as weak as thought, especially given the lack of inflation," said Scott Hoyt of Moody's Analytics.