WRAPUP 1-US retail sales tumble in January; weekly jobless claims fall

U.S. retail sales fell by the most in nearly a year in January, but economists cautioned against reading too much into the decline, noting that winter storms as well as technical factors had distorted the data. The larger-than-expected drop in retail sales reported by the Commerce Department on Thursday also reflected a sharp fall in receipts at services stations because of lower gasoline prices. Consumer spending remains supported by a fairly healthy labor market, which is keeping wage growth elevated.