New figures show that US retail sales increased by 0.9% in December, suggesting consumers are still opening their wallets despite weakness in other segments of the economy. The gain was stronger than the 0.7% increase expected by Wall Street analysts.
The Commerce Department report showed sales up 1% excluding volatile car sales. That was better than analysts' forecasts. Retail sales are closely watched since consumer spending accounts for about two-thirds of US economic activity.
December's increase was the largest since July. But November's increase was cut almost in half, to a revised 0.6% increase from the 1% originally estimated.
December's rise was led by a 3.8% increase in sales at petrol stations. Sales at electronics and appliance stores rose 3%.
