US Retail Sales Rose Modestly Last Month Amid Solid Holiday Shopping, Boosting Economy
Jan 16, 2025
Credit: MGN(Associated Press) – Americans stepped up their spending at retail stores and restaurants last month in a clear sign that consumers are still able and willing to shop.
Retail sales rose 0.4% in December from the previous month, the Commerce Department said Thursday, though down from November’s upwardly revised 0.8% gain.
The figures suggest that even as many Americans are struggling with higher prices and elevated interest rates, a low unemployment rate and rising wages are encouraging millions of consumers to spend, bolstering economic growth.