Retail Sales Rebound Sharply
Retail sales rebounded sharply in* January, the government reporter!* yesterday, showing that consumers* still are not retrenching despite wide^. spread forecasts that the economy ip*, heading into a mild recession.</br></br>Commerce Department figures! showed that overall consumer buying rose a hefty 2.3 percent during the^ month ÛÓ a significant bounceback fol-t lojwing a revised 0.5 percent increase? recorded in December.</br></br>The increase came as a surprise tol economists, who had expected to see^ retail sales began to sag following aZ relatively robust performance at the' end of last year. Consumers already^ are heavily in debt.	å£</br></br>However, William A. Cox, the Corn-j merce DepartmentÛªs deputy chief economist, said the statistics did not change the administrationÛªs current forecast that the economy will undergo a mild recession early this year.</br></br>Cox said after yesterdayÛªs report was published: ÛÏIÛªm reluctant to as sume that retail sales will continue to show any impressive strength over the long stretch. The consumer already is straining.Û