Retail Sales Grew 0.4% in December

There were $495.4 billion in retail and food service sales in December, up 0.4% from the previous month and 5.4% from December 2016, according to the U.S. Census Bureau. November’s number was upwardly revised to reflect a 0.9% increase.

Core retail sales – excluding automobiles and parts – grew 0.4%. Year-over-year core sales increased 6.3%.

Retail trade sales increased 0.3% from November and 5.6% from last year. Sales at nonstore retailers grew 1.2% following November’s 4.2% increase. Nonstore retailer sales are up 12.7% year-over-year as online retailers continue to grow their market share.

Sales at gasoline stations were unchanged during December after growing 3.0% in November. Gasoline station sales are up 12.5% since December 2016.

Read the Census release.

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About Stephen Newton

Stephen Newton is an economic research associate at ABA.