Retail Sales Top Expectations with 0.6% Monthly Gain in December, Capping Off Strong 2022
- Retail sales rose 0.6% M/M to $709.9B in December, topping expectations
- Core retail sales rose 0.4%, exceeding consensus
- Ex-auto & gas sales increased 0.6%, beating consensus
- Total sales for 2022 rose 3.2%; Oct-Dec sales up 3.9% Y/Y
- Nonstore retailers' sales jumped 9.7% Y/Y; food services & drinking places up 11.1%