logo
Retail Sales
ASSOCIATED PRESS

Retail sales up 0.6% as strong job marked helped to fuel a strong holiday sales season

Americans stepped up their spending in December more than expected, closing out the holiday season and the year on an upbeat tone

By ANNE D'INNOCENZIO
Published - Jan 17, 2024, 08:42 AM ET
Last Updated - Jan 17, 2024, 08:42 AM EST

NEW YORK (AP) — Americans stepped up their spending even more than expected in December, closing out the holiday season and the year on an upbeat tone.

Retail sales rose 0.6% in December compared with November's 0.3% increase, according to the Commerce Department.

Sales at stores selling general merchandise rose 1.3%, while sellers of clothing and accessories saw business up 1.5%. Online sellers posted a 1.5% uptick. Furniture and home furnishings businesses had a 1% decline, reflecting a challenging housing market.

Economists had expected consumers to pull back on spending in the final three months of the year as credit card debt and delinquencies rise and savings fall. While consumers continue to face higher borrowing costs, tighter credit conditions and higher prices, spending is being fueled by a strong job market and rising wages.

Our Offices
  • 10kInfo, Inc.
    13555 SE 36th St
    Bellevue, WA 98006
  • 10kInfo Data Solutions, Pvt Ltd.
    Claywork Create
    11 km, Arakere Bannerghatta Rd, Omkar Nagar, Arekere,
    Bengaluru, Karnataka 560076
4.2 12182024