Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  January 15, 2013 15:43:53

U.S. - Retail sales in December rose well above market expectations


Retail sales in the U.S. in December, according to Commerce Department statistics, increased by 0.5% compared to 0.4% in November. The market on average counted rather slowing growth to about 0.2% of the overall estimates range from -0.3 to +0.8%.
Sales excluding the impact of sales of cars and fuel rose in December by 0.6%. Only without the automobile sales grew by 0.3% compared with the November decline of 0.1%. The market in this respect, an estimated growth of 0.2%.

Sales growth in December was mainly supported by further improvements in the labor market and general consumer confidence that makes the scope for increased consumer spending in the main shopping season of the year.

Revenue growth registered by 9 of the 13 sectors tracked retail headed to the growth of car sales by 1.6% (+2.7% in November) and furniture sales growth of 1.4%. About 1% of apparel sales rose 0.3% and in hypermarkets.Sales at restaurants and bars grew by 1.2%.
Sales at gas stations fell by 1.6% due to the continued decline in gasoline prices. The average price in the last month of the year fell by another 14 cents on the resulting $ 3.3 per gallon.

Retail sales excluding the automotive sector, fuel and construction materials rose by 0.6% in November, compared to 0.5%. This figure is used when calculating GDP.

For the full year 2012, retail sales grew by 5.2% compared to a growth of 7.9% in 2011.
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