Retail sales rose 0.6% in December versus expectations of 0.4%. After adjusting for inflation, the gain was about 0.2%. Perhaps this shouldn't have been a surprise given that consumers are fairly upbeat about their finances.
Here is Mike Shedlock's analysis:
Retail Sales Surge 0.6 Percent, Beating Economist’s Expectations
Economists expected a December rise in retail sales of 0.4 percent. Instead, consumers went on a spending spree. But two-thirds of that was due to inflation. Real (inflation-adjusted) sales rose 0.…
Mike Shedlock