Tuesday, January 15, 2013

U.S. retail sales rise 0.5% in December

Investing.com - Retail sales in the U.S. rose more-than-expected in December, while core retail sales also beat expectations, official data showed on Tuesday.  

In a report, the U.S. Census Bureau said that retail sales rose by a seasonally adjusted 0.5% in December, above expectations for a 0.2% gain. 

Retail sales for November were revised to a 0.4% increase from a previously reported gain of 0.3%.

Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.

Core retail sales, which exclude automobile sales, increased by a seasonally adjusted 0.3%, beating expectations for a 0.2% gain.

Core sales for November were revised down to a 0.1% drop from a previously reported flat reading.

Core sales correspond most closely with the consumer spending component of the government's gross domestic product report. Consumer spending accounts for as much as 70% of U.S. economic growth.


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