US retail sales grow less than expected in December

US retail sales grow less than expected in December

Mubasher: US retail sales rose for the fourth consecutive month in December, but remained below Economists’ forecasts, according to data released by the US labor department on Thursday.

Sales increased by a seasonally adjusted 0.4% in December, down from a 0.9% growth in November.

Economists had expected a 0.5% rise last month.

On an annual basis, retail sales grew by 5.4%, in December, reflecting a higher US household spending.

As for the full year, sales went up 4.2% compared with 2016.

By 02:37 pm GMT, the US dollar index jumped 0.89% to $1.2139.

Source: Mubasher

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