U.S. Retail Sales Rise More than Expected in Dec. on Discounts, Job Additions
Tweet Send to a Friend
Get Alerts F Hot Sheet
Price: $15.65 --0%
Overall Analyst Rating:
NEUTRAL (
Down)
Dividend Yield: 3%
Revenue Growth %: 0.0%
Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 3%
Revenue Growth %: 0.0%
Trade F Now!
U.S. retail sales rose more than expected in December and added to gains in the previous month as widespread discounting and growing employment coaxed most Americans into open pocketbooks a little wider.
According to latest figures from the U.S Census Bureau, adjusted U.S. retail sales rose 0.5 percent from November and 4.7 percent over last December. Economists were looking for a more modest rise of 0.2 percent.
Excluding autos, sales rose 0.3 percent, which was in-line with expectations.
Total retail sales improved 5.2 percent while fourth-quarter sales improved 4.2 percent.
Sales of motor vehicles and parts improved 2.7 percent from November, a boon for the likes of Ford (NYSE: F) and General Motors (NYSE: GM).
Spending at clothing chains improved one percent while the same at department stores rose 0.3 percent. Macy's (NYSE: M), Gap, Inc. (NYSE: GPS), and Nordstrom (NYSE: JWN) all reported comps that topped views in December as late-season discounts lured in last-minute shoppers.
Nonfarm payroll additions were 155,000 workers in December, adding to a 161,000 worker gain in November and keeping the unemployment rate steady at 7.8 percent.
Given that consumer spending makes up about 70 percent of GDP, this is a metric to watch as the Fed mulls an early exit of QE measures and new tax standards brought about by the fiscal cliff reduces overall net income to Americans.
U.S. markets are lower at the start Tuesday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
According to latest figures from the U.S Census Bureau, adjusted U.S. retail sales rose 0.5 percent from November and 4.7 percent over last December. Economists were looking for a more modest rise of 0.2 percent.
Excluding autos, sales rose 0.3 percent, which was in-line with expectations.
Total retail sales improved 5.2 percent while fourth-quarter sales improved 4.2 percent.
Sales of motor vehicles and parts improved 2.7 percent from November, a boon for the likes of Ford (NYSE: F) and General Motors (NYSE: GM).
Spending at clothing chains improved one percent while the same at department stores rose 0.3 percent. Macy's (NYSE: M), Gap, Inc. (NYSE: GPS), and Nordstrom (NYSE: JWN) all reported comps that topped views in December as late-season discounts lured in last-minute shoppers.
Nonfarm payroll additions were 155,000 workers in December, adding to a 161,000 worker gain in November and keeping the unemployment rate steady at 7.8 percent.
Given that consumer spending makes up about 70 percent of GDP, this is a metric to watch as the Fed mulls an early exit of QE measures and new tax standards brought about by the fiscal cliff reduces overall net income to Americans.
U.S. markets are lower at the start Tuesday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- May Housing Starts 914k vs 950k Expected
- May CPI 0.1% vs 0.2% Expected, Ex-Food/Energy 0.1% vs 0.2%
- Import Prices (May) -0.6% versus an expected 0.0%
Create E-mail Alert Related Categories
Economic DataRelated Entities
Layoffs
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
