Twas the Season: Retail Sales Surge Higher Than Expected, Threatening to Ignite InflationJohn Carney 17 Jan 2024
American shoppers eagerly reached for their wallets and credit cards in December to spend far more than expected, figures from the Department of Commerce indicated Wednesday.
Retail sales in the U.S. rose 0.6 percent compared with the previous month, far above the 0.2 percent forecast. Compared with a year ago, sales were up 5.6 percent.
Sales of cars and trucks helped boost the figure. Absent sales at car dealers, retail sales were up 0.4 percent. This was still twice the 0.2 percent forecast.
Retail sales excluding gas station and auto sales rose 0.6 percent, also twice as much as projected. Excluding only gas stations, sales were up 0.7 percent.
Sales were flat at restaurants and bars. Excluding gas, autos, and restaurant sales, retail sales rose 0.6 percent.
The sales figures are seasonally adjusted to take account of surging holiday shopping. They are not adjusted for inflation.
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https://www.breitbart.com/economy/2024/01/17/twas-the-season-retail-sales-surge-higher-than-expected-threatening-to-ignite-inflation/
