Retail Sales Surge Higher Than Expected, Threatening to Ignite Inflation
U.S. shoppers eagerly reached for their wallets and credit cards in December, spending far more than expected, according to Commerce Department statistics on Wednesday. U.S. retail sales rose 0.6% from the previous month, well above expectations for a 0.2% increase. Compared to the previous year, sales increased by 4.8%. Sales of cars and trucks drove […]
Retail sales rise faster than expected in December
National Retail Federation CEO Matt Shea analyzes consumer spending and the retail industry as shoppers hit stores across the country for Black Friday. Americans picked up spending in December during the crucial holiday season, even though they still faced high interest rates and soaring prices for everyday goods. retail salesThe Commerce Department said Wednesday that […]