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US Retail Sales rise 0.6% in December, ending 2023 on a positive note

Thursday, Jan 18, 2024

Retail sales have increased at a strong and steady pace over the past three months, and December is no exception. Retail sales rose by 0.6% month-over-month in December, extending November’s 0.3% gain. This was higher than the consensus forecast calling for an increase of 0.4%

Nine of the 13 categories posted increases. Some of the largest contributions came from sales at non-store retailers (1.5%), clothing and accessory stores (1.5%) and department stores (1.3%).

Holiday retail shopping boosted overall spending significantly and allowed 2023 to close on a high note. Sales during the month rose at a relatively fast pace adding to decent gains in November. 

These numbers prove that consumer spending is still resilient, and will continue to be throughout the new year. 

Source: US Retail Sales – Action Forex

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