April 29, 2024

News and Political Commentary

Retail sales up 0.6% as strong job marked helped to fuel a strong holiday sales season

2 min read

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NEW YORK (AP) — Americans stepped up their spending even more than expected in December, closing out the holiday season and the year on an upbeat tone.

Retail sales rose 0.6% in December compared with November’s 0.3% increase, according to the Commerce Department’s report issued Wednesday. The report signaled that shoppers may be able to keep fueling economic growth this year.

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Sales at stores selling general merchandise rose 1.3%, while sellers of clothing and accessories saw business up 1.5%. Online sellers posted a 1.5% uptick. Furniture and home furnishings businesses had a 1% decline, reflecting a challenging housing market. Sales at restaurants were unchanged in December.

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The Associated Press

2024-01-17 08:54:16

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