May 3, 2024

Twas the Season: Retail Sales Surge Higher Than Expected, Threatening to Ignite Inflation

American shoppers eagerly reached for their wallets and credit cards in December to spend far more than expected, figures from the Department of Commerce indicated Wednesday. Retail sales in the U.S. rose 0.6 percent compared with the previous month, far above the 0.2 percent forecast. Compared with a year ago, sales were up 5.6 percent.

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