UUP - Annual Retail Sales Surge By 5.6% In December Hit 10-Month High Showcase Robust Consumer Demand | Benzinga
Retail sales reached new heights in December 2023, defying expectations and demonstrating the strong resilience of U.S. consumer demand.
The U.S. Census Bureau’s latest advanced estimate revealed that retail and food services sales in December amounted to $709.9 billion.
Key Highlights: In December 2023, retail sales showed a 0.6% increase from the previous month and a remarkable 5.6% surge compared to December 2022. Surpassing economist predictions of a 0.4% monthly rise, these numbers painted a bright picture for the economic growth in the last quarter of the year.
Delving deeper into the data, when excluding auto sales, retail numbers still showed strength with a 0.4% increase from the previous month, outshining ...