Retail sales heat up more than expected in December

Jan. 17, 2024 8:32 AM ET
By: Liz Kiesche, SA News Editor

• Retail sales surged 0.6% to $709.9B in December, surpassing the expected 0.4% increase and exceeding November’s 0.3% rise, as reported by the U.S. Census Bureau.
• Core retail sales climbed 0.4%, outperforming the 0.2% consensus and the previous 0.2% increase.
• Excluding auto and gas, sales increased by 0.6%, surpassing the 0.2% consensus and matching the 0.6% rise in the prior period.
• Total sales for the year rose by 3.2%, while sales for October through December 2023 rose by 3.9% compared to the same period a year ago, according to the U.S. Census Bureau.
• Retail trade sales saw a 0.6% increase from November and a 4.8% year-over-year increase. Nonstore retailers’ sales soared by 9.7% year-over-year, and sales of food services and drinking places surged by 11.1% year-over-year, as reported by the U.S. Census Bureau.

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