|Market Research A to Z | Company Profiles A to Z | Register | Contact Us | Shopping Basket|
|+44 (0) 203 086 8600 Call us on|
Sales within the US retail industry rose in December by more than analysts had expected as Americans spent more on cars and home furnishings, figures show.
American consumers drove a bigger than expected increase in retail sales in the run-up to Christmas, shrugging off the threat of tax rises as politicians failed to agree to measures to avert the so-called "fiscal cliff".
Sales rose 0.5pc to $415.7 billion in December according to the US Commerce Department, boosted by the sale of cars and home furnishings. The increase beat economists' expectations of a 0.2pc rise, and was a slight improvement on the 0.4pc increase in November.
With consumer spending accounting for about 70% of US economic activity, analysts said the figures were good news for the economy. Sales of cars and car parts rose by 1.6% from November, while sales of furniture and personal care products were 1.4% higher.
Economists said the data were encouraging for fourth-quarter growth, the data for which has yet to be published, and for the consumer environment in 2013.
Economists at Capital Economics said that while the US economy was likely to grow by just 2pc this year, "the foundations for faster growth in a few years' time are falling into place."
For more information on the US retail industry, see the latest research: US Retail Industry
Follow us on Twitter @CandMResearch
Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support
Use our skills and global network of researchers and consultants to help find and source the business information you need.
Contact us now on 00 44 (0) 203 0868600 or "enquiries @ companiesandmarkets.com" to discuss you requirements and we can provide you with a research solution at suprisingly efficient rates and timelines.
Sometimes we can even find the information you require for free.
We are offering our clients substantial savings on the best research available during July. Please contact us either via email or by calling our team to discuss your specific research needs on Tel: 00 44 (0) 203 0868600.