US retail sales for December 2023 higher than expected

<img width="250" height="167" src="https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-retail-sales-for-December-2023-5875482410-iStock-1425905549-250×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Sales chart" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-retail-sales-for-December-2023-5875482410-iStock-1425905549-250×167.jpg 250w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-retail-sales-for-December-2023-5875482410-iStock-1425905549-700×467.jpg 700w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-retail-sales-for-December-2023-5875482410-iStock-1425905549-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-retail-sales-for-December-2023-5875482410-iStock-1425905549-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-retail-sales-for-December-2023-5875482410-iStock-1425905549-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-retail-sales-for-December-2023-5875482410-iStock-1425905549-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-US-retail-sales-for-December-2023-5875482410-iStock-1425905549.jpg 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p>The December increase bettered November <a href="https://www.leaprate.com/forex/audusd-rallied-higher-for-fourth-day-despite-weak-retail-sales/" target="_blank" rel="noopener">retail sales</a> by 0.3%, confirming the resilience of American shoppers while bolstering the economy. The numbers also allay fears of stinted economic growth, starting the new year on a positive financial footing.</p>
<p>Out of the 13 categories monitored, nine experienced sales increases compared to November 2023. Clothing, fashion accessories, and non-store retailers recorded a 1.5% jump. Health and personal care shops, however, took a 1.4% knock. This month-on-month comparison also showed petrol station sales were down by 1.3%. The figures exclude automotive and fuel sales.</p>
<p>An annual comparison indicated that automotive and fuel sales increased by 4.9%. Eateries and drinking establishments also boosted sales by 11.3%. On the back of falling fuel prices, spending at petrol stations dropped by 11.5%.</p>
<p>___________________________________________________________________________________________________________________________</p>
<p><a href="https://finaffiliates.us20.list-manage.com/subscribe/post?u=e0dd4d77c259eb270712a4eeb&amp;id=fd200b8f75&amp;v_id=4291&amp;f_id=00946ce6f0" target="_blank" rel="noopener noreferrer"><em>Don’t miss out the latest news, subscribe to LeapRate’s newsletter</em></a><br />
_______________________________________________________________________________________________________________________________</p>
<p>Analysts contemplated the brawn of the US economy and how strongly it will start the new year. Many expected growth to scale down, but these statistics show continued momentum, which may influence the US Federal Reserve to stay its course regarding interest rates. In a CNBC interview, the managing director of trading and investing for E-Trade from Morgan Stanley,Chris Larkin commented:</p>
<blockquote><p>The Fed was already hammering away on its ‘no rush to cut rates’ message, and today’s stronger-than-expected retail sales won’t give them any reason to change their tune.</p></blockquote>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/us-retail-sales-for-december-2023-higher-than-expected/">US retail sales for December 2023 higher than expected</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>