Retail Sales Stagnate in December, Fail to Meet 0.4% Forecast
U.S. retail sales remained stagnant in December, recording an amount of $735.0 billion. This figure did not show any change from November, falling short of the expected 0.4% increase.
December Retail Sales Data
According to data released by the U.S. Census Bureau, retail sales growth has slowed significantly. In contrast to the previous month, growth dropped from 0.6% in November to 0.0% in December 2023. Additionally, December 2023 saw a 2.4% increase compared to the same month in 2022.
Key Statistics
- December Sales: $735.0 billion
- Month-over-Month Change: 0.0% (no change from November)
- Consensus Forecast: +0.4%
- Previous Month Growth: +0.6%
- Year-over-Year Growth: +2.4% (compared to December 2022)
The stagnation in retail sales highlights a significant shift in consumer spending habits. Analysts are monitoring these trends closely to better understand the economic implications.
Implications for the Retail Sector
The failure to meet forecasts may indicate underlying challenges within the retail industry. Factors affecting consumer confidence and spending could be pivotal in shaping future sales trends.
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