{"id":201181,"date":"2024-01-17T10:30:00","date_gmt":"2024-01-17T15:30:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=201181"},"modified":"2024-01-17T12:50:26","modified_gmt":"2024-01-17T17:50:26","slug":"annual-retail-sales-surge-by-5-6-in-december-hit-10-month-high-showcase-robust-consumer-demand","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/annual-retail-sales-surge-by-5-6-in-december-hit-10-month-high-showcase-robust-consumer-demand\/","title":{"rendered":"Annual Retail Sales Surge By 5.6% In December, Hit 10-Month High, Showcase Robust Consumer Demand"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-zinger-key-points\">ZINGER KEY POINTS<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>December 2023 retail sales in the US outperformed expectations, with a 5.6% YoY increase, showcasing robust consumer demand.<\/li>\n\n\n\n<li>Notable winners included nonstore retailers, food services, and electronics stores, but furniture and gas stations faced declines.<\/li>\n<\/ul>\n\n\n\n<p>Retail sales reached new heights in December 2023, defying expectations and demonstrating the strong resilience&nbsp;<a href=\"https:\/\/www.benzinga.com\/topic\/economics\" target=\"_blank\" rel=\"noreferrer noopener\">of U.S. consumer demand.<\/a><\/p>\n\n\n\n<p>The U.S. Census Bureau\u2019s latest advanced estimate revealed that retail and food services sales in December amounted to $709.9 billion.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-highlights-nbsp\"><strong>Key Highlights:<\/strong>&nbsp;<\/h2>\n\n\n\n<p>In December 2023, retail sales showed a 0.6% increase from the previous month and a remarkable 5.6% surge compared to December 2022. Surpassing economist predictions of a 0.4% monthly rise, these numbers painted a bright picture for the economic growth in the last quarter of the year.<\/p>\n\n\n\n<p>Delving deeper into the data, when excluding auto sales, retail numbers still showed strength with a 0.4% increase from the previous month, outshining the expected 0.2% uptick. Furthermore, if we exclude gas and auto sales, retail figures remained steady with a 0.6% monthly growth rate, maintaining the same pace as November.<\/p>\n\n\n\n<p>Notable winners in the retail sector included nonstore retailers, which saw a substantial 9.7% increase from the previous year. Food services and drinking places also thrived, boasting an impressive 11.1% year-on-year growth. Electronics and appliance stores followed suit with a strong 10.7% surge, while motor vehicle and parts dealers registered a solid 10.3% improvement from December 2022.<\/p>\n\n\n\n<p>However, on the negative side, furniture and home furnishing stores experienced a 4.7% decline year-on-year, while gasoline stations faced a more significant setback, with a 6.6% drop in sales compared to the previous year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-market-reactions-nbsp\"><strong>Market reactions:&nbsp;<\/strong><\/h2>\n\n\n\n<p>The U.S. dollar gained ground shortly after the release of these stronger-than-expected figures, with investors expressing concerns that resilient consumer demand might delay potential rate cuts by the Federal Reserve in the future.<\/p>\n\n\n\n<p>Notably, the\u00a0Invesco DB USD Index Bullish Fund\u00a0rose by 0.9% on the back of hawkish remarks from Fed Governor\u00a0<strong><a href=\"https:\/\/www.benzinga.com\/markets\/equities\/24\/01\/36651513\/fed-gov-wallers-talk-tempers-rate-cut-hopes-fed-in-no-rush-rattles-investors\" target=\"_blank\" rel=\"noreferrer noopener\">Christopher Waller<\/a><\/strong>. Treasury yields also climbed, with the 10-year benchmark reaching 4.10%, and the popular\u00a0iShares 20+ Year Treasury Bond ETF closed 1.8% lower.<\/p>\n\n\n\n<p>Futures on major U.S. stock averages traded in the red ahead of the Wall Street opening bell. Nasdaq 100 contracts saw a 0.6% dip, slightly underperforming S&amp;P 500 futures, which were down by 0.4%.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted January 17, 2024 &#8211; <a href=\"https:\/\/www.benzinga.com\/markets\/equities\/24\/01\/36659850\/annual-retail-sales-surge-by-5-6-in-december-hit-10-month-high-showcase-robust-consumer-demand\">Annual Retail Sales Surge By 5.6% In December, Hit 10-Month High, Showcase Robust Consumer Demand<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>December 2023 retail sales in the US outperformed expectations, with a 5.6% YoY increase, showcasing robust consumer demand.<\/p>\n","protected":false},"author":1128,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,6,8,9,26,3],"tags":[9795,3221,1685,1546],"contributors-categories":[13584],"class_list":{"0":"post-201181","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-macro","7":"category-north-america","8":"category-region","9":"category-securities","10":"category-text-articles","11":"category-traders-insight","12":"tag-consumer-demand","13":"tag-economic-data","14":"tag-macro","15":"tag-retail-sales","16":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Annual Retail 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