US retail sales jump 0.6% in December
By Iain Gilbert
Date: Wednesday 17 Jan 2024
(Sharecast News) - US retail sales soared 0.6% month-on-month in December, according to the Census Bureau, beating forecasts of 0.4% for the biggest increase in three months.
December's increase was principally driven by sales of autos, which were up 1.2% month-on-month. Excluding autos, retail sales increased 0.4%.
Sales were also up at non-store retailers, clothing, general merchandise stores, miscellaneous store retailers, building materials and garden equipment, sporting goods, hobby, musical instrument and books, and food and beverages stores.
On the other hand, sales declined at health and personal care, gasoline stations, furniture, and electronics and appliances, and were unchanged at food services and drinking places. Excluding autos, gas, building materials and food services, so-called core retail sales, also rose at a 0.6% clip, flat month-on-month.
For the year as a whole, unadjusted retail sales increased 3.2%
Reporting by Iain Gilbert at Sharecast.com
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