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- U.S. retail sales in line with expectations in December
U.S. retail sales in line with expectations in December
The Commerce Department announced on Thursday the sales at U.S. retailers rose 0.3 percent m-o-m in December, following a revised 0.3 percent m-o-m advance in December (originally a 0.2 percent m-o-m gain).
Economists had expected total sales would increase 0.3 percent m-o-m in December.
Excluding auto, retail sales climbed 0.7 percent m-o-m in December after a revised flat m-o-m performance in the previous month (originally a 0.1 percent m-o-m advance), beating economists' forecast for a 0.5 percent m-o-m gain.
Meanwhile, closely watched core retail sales, which exclude automobiles, gasoline, building materials and food services, and are used in GDP calculations, increased 0.5 percent m-o-m in December after a downwardly revised 0.1 percent m-o-m rise in November.
In y-o-y terms, the U.S. retail sales surged 5.8 percent in December, following a 3.3 jump in the previous month.
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