WASHINGTON: A dip in US sales of autos last month put a dent in the final weeks of the all-important holiday shopping period, which was otherwise robust, government data showed Thursday.
Total retail sales for December rose 0.3% to US$529.6 billion, seasonally adjusted, the same increase recorded in the prior two months.Auto sales fell 1.3%, however, dragging down the overall result.Sales surpassed forecasts, rising 0.7%. “This is a consumer-driven economy, and by any measure, the consumer has put the economy in a solid position for continued growth,” said NRF Chief Executive Matthew Shay.
Source: Financial Digest (financialdigest.net)
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