Business

U.S. Retail Sales Growth Falls Just Short Of Estimates In December

U.S. Retail Sales Growth Falls Just Short Of Estimates In December

Ultimately, $112.9 billion were spent in non-store sales, resulting in a near 13% percent rise from 2015's numbers.

December sales for furniture and home furnishings retailers increased 3.1% from the same month previous year and were up 0.5% from the month before, underperforming overall retail and food services sales reported by the government.

Retail sales grew by 4.8% through the holiday season, as compared to the same period in 2015 - and November and December spending growth is the strongest it's been in five years, according to a new report from Visa.

On Monday, a separate report from First Data Corp., which pulled data from cash registers, indicated similar findings on holiday shopping, with holiday spending up 4.7 percent, and online transactions growing by 12 percent compared to a year ago.

The figures also pointed to a continuation of consumer trends in shopping, with online businesses seeing rising sales, while department stores moved fewer goods off the shelves.

United States indicts 3 Takata executives in faulty air bag scandal
A USA -based spokesman for Takata did not have an immediate comment and said a statement would be issued later Friday. Unlike most other air bag makers, Takata's inflators use explosive ammonium nitrate to fill air bags in a crash.

Electronics and appliance store sales were off 2.4% in December from a year ago and down. But excluding these two volatile categories, so-called core retail sales were flat (0.4% expected).

For all the headlines this month of weak department store sales and closing stores, retailers enjoyed a stellar holiday season, buoyed by higher wages and soaring consumer confidence.

The holidays truly were the season of giving in 2016 - retail sales topped $650 billion, according to the National Retail Federation.

USA businesses stockpiled more goods in warehouses and on store shelves in November as sales improved slightly.

Motor vehicles and parts dealers saw the strongest monthly gains, with sales growing 2.4 percent over November, the fastest monthly gain in eight months. The result was a tenth of a percentage point below an analyst consensus forecast.


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