US retail sales rose 0.5 percent in December, led by autos, furniture and clothing sales |
| Washington Post - Jan 15, 2013 |
U.S. consumers increased their spending at retail businesses in December, buying more autos, furniture and clothing. Steady job growth and lower gas prices kept consumers shopping for the holidays, despite worries about potentially tax increases.
Retail sales rose 0.5 percent in December from November, the Commerce Department said Tuesday. That’s slightly better than November’s 0.4 percent increase and the best showing since September.
Sales of autos and auto parts rose 1.6 percent to lead all categories. Car companies closed out their best sales year since 2007.
Total retail spending was even stronger when factoring out a steep drop in gas prices.
And so-called core retail sales, which exclude gas, building materials and autos, rose 0.6 percent after a 0.5 percent increase in November. Economists pay closer attention to core sales because they strip out the most volatile categories and are a better gauge of consumer spending.
Read Full Article from Washington Post
- Posted: 2013-01-15 13:00:36
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