USA retails sales grow 0.4 pct in December

USA retails sales grow 0.4 pct in December

The October 2017 to November 2017 percent change was revised from up 0.8% to up 0.9%. Sporting goods stores lost 1.6 percent in sales for the month. Same-store sales at department stores through December 25 declined more than 6 percent.

NRF's numbers are based on data from the U.S. Census Bureau, which reported that overall December sales - including automobiles, gasoline and restaurants - were up 0.4% seasonally adjusted from November and 5.4% year-over-year. "Whether they shopped in-store, online or on their phones, consumers were in the mood to spend, and retailers were there to offer them good value for their money".

Compared to the same month a year ago, retail sales were up by 5.4% in December, reflecting a deceleration from the 6.0% year-over-year growth in November.

Total retail sales volumes grew at a 0.4% month-on-month pace in December to reach $495.38bn, according to the Department of Commerce.

The so-called retail sales control group grew by 0.3% on the month, which was one tenth of a percentage point less than anticipated. General merchandise sales rose 0.1% from November and were up 4.4% for 2017, and department store sales fell 1.1% from November and rose 0.5% year over year.

Pedestrians view a holiday window display at the Macy’s Inc. department store in New York
Pedestrians view a holiday window display at the Macy’s Inc. department store in New York

Combined with last month's glowing consumer spending data, economists say, the usa economy is showing signs of strength going into the new year.

Its analysis released Wednesday showed that overall spending among Philly shoppers in stores grew 4 percent this last holiday season from past year.

Not all categories of retail fared well in December.

"We see a very healthy consumer, and we see a lot of signs of the strength of that consumer", Mr. Andrus said. It's a key gauge for the economy, which derives about two-thirds of its output from consumer spending. Bon-Ton Stores, like many other retailers, has faced challenges as customers shifted from brick-and-mortar and mall shopping toward online retailing, and The Wall Street Journal has reported the chain has considered a possible bankruptcy filing. The NRF had forecast a strong season but it only anticipated sales growth of 3.6 and 4 percent. A gallon of regular gasoline cost $2.48 on average in December versus $2.56 in November, according to the U.S. Energy Information Administration.


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