Retail Sales Top Predictions, , Ending 2023 Strong.<br />Yahoo Finance reports that December's retail sales showed <br />consumer spending in the United States continues to be <br />resilient, quelling fears of stalled economic growth.<br />According to Census Bureau data, <br />retail sales grew 0.6% in December. .<br />Previous 'Bloomberg' data <br />led economists to forecast a more <br />modest 0.4% increase for the month. .<br />In November, retail sales posted <br />another surprise 0.3% increase. .<br />Retail sales beat expectations <br />yet again in December, Oren Klachkin, Nationwide financial <br />markets economist, via Yahoo Finance.<br />Consumers were willing to spend <br />during the holidays and will remain <br />inclined to do so as long as real <br />income gains more than offset <br />the drag from elevated interest <br />rates and tight lending standards, Oren Klachkin, Nationwide financial <br />markets economist, via Yahoo Finance.<br />We think this narrative <br />will persist in early 2024 <br />but then lose steam as the <br />job market deteriorates, Oren Klachkin, Nationwide financial <br />markets economist, via Yahoo Finance.<br />Yahoo Finance reports that nine of the <br />13 categories tracked in the Census Bureau <br />data saw month-over-month increases.<br />The December report will be scrutinized by investors <br />looking for the U.S. economy to pull off a "soft landing," <br />where inflation falls without a major recession.<br />According to Christopher Waller, a member of the <br />Fed's Board of Governors, economic activity and labor markets are in "good shape," a sentiment backed by <br />Morgan Stanley chief economist Ellen Zentner. .<br />According to Christopher Waller, a member of the <br />Fed's Board of Governors, economic activity and labor markets are in "good shape," a sentiment backed by <br />Morgan Stanley chief economist Ellen Zentner. .<br />The beat on control retail sales <br />supports Governor Waller's recent <br />remarks the economy is strong <br />enough that the Fed can remain <br />patient in determining its next move. , Ellen Zentner, Morgan Stanley chief economist, via Yahoo Finance
