Retail sales soften in December

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Retail sales soften in December
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Retail sales for the month of December rose nearly 5.2% year over year, to about $749 billion on an unadjusted basis, according to data provided by the U.S. Census Bureau.

On a seasonally adjusted basis, December retail sales grew 6% year over year but fell 1.1% month over month to about $677 billion.

The headline number for December was affected by lower gas and auto sales, as well as a decline in home furnishings.Retail sales were about $916 billion for November and December, excluding auto, gas and restaurants.that holiday sales would increase between 6% and 8% or between $943 billion and $960 billion.

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