Retail Sales Growth Defies Expectations in December as Shoppers Show Confidence Despite Inflation
• Retail sales rose 0.6% in December, signaling consumers remain willing to spend • Sales increased across most categories including general merchandise, clothing, accessories, and online sellers • Economists had expected spending to slow due to high debt, lower savings, and tighter credit • Shoppers seem confident despite inflation, showcased by decent 2022 holiday sales growth • Attacks on cargo ships in Red Sea pose little current risk but could disrupt supply chains long-term if prolonged