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.
http://www.investing.com/news/economic-indicators/u.s.-retail-sales-rise-0.5-in-december-243051
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.
http://www.investing.com/news/economic-indicators/u.s.-retail-sales-rise-0.5-in-december-243051
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