SFS Insights: Monthly U.S. Retail Sales
- December retail sales out Wednesday showed U.S. consumer spending continued to prove resilient to round out 2023, pushing back against fears economic growth stalled in the year's final months.
- Retail sales grew 0.6% in December, according to Census Bureau data. Economists had expected a 0.4% increase, according to Bloomberg data. December sales excluding auto and gas increased by 0.6% compared to estimates for a 0.3% increase.
- The December report was expected to be closely watched by investors looking for signs of a "soft landing" in the U.S. economy where inflation cools to the Fed's targeted 2% rate without an extreme downturn in economic activity
