US retail sales rose at the strongest pace in three months in December, capping a solid holiday season that suggests consumer resilience heading into the new year.
Retail purchases saw a broad improvement of 0.6% in value, unadjusted for inflation, according to figures from the Commerce Department.
Nine out of thirteen categories saw growth, with apparel, general merchandise retailers, which include department stores, and e-commerce seeing the largest advances.
The numbers bring a close to a year in which household spending mostly surprised to the upside, defying predictions of a recession by experts. Forecasters, however, predict that pace will slow down in 2024 as consumers deal with persistent inflation, high borrowing prices, and declining savings.
The retail figures largely reflect purchases of merchandise, which comprise a relatively narrow share of overall consumer spending.
