Tuesday, 11 December, 2018

Economy Watch: Retail Sales Gain Ground in December

Retail Sales Grew 0.4% in December December's retail sales were the best in three years; Philly retailers did well too
Andy Castillo | 13 January, 2018, 04:06

December's retail sales growth shows "the dire predictions of the demise of retail are premature", Moody's vice president Mickey Chadha said.

General merchandise stores increased 4.3 percent.

Retailers had their best holiday season since 2010, according to the National Retail Federation, which on Friday reported that sales in the November-December period rose 5.5% compared with the year earlier period. However, many questioned exactly where that increased spending would go.

A report released by the Commerce Department on Friday showed United States retail sales rose in line with economist estimates in the month of December. These so-called core retail sales are the most consistent with the consumer spending element of gross domestic product (GDP).

Early results for the season from Mastercard SpendingPulse, which tracked spending through December 24, reported holiday sales grew by 4.9%.

Combined with last month's glowing consumer spending data, economists say, the us economy is showing signs of strength going into the new year.

Retail Sales Grew 0.4% in December
US retail sales rise in December, capping a strong year in spending

Jeremy Andrus, chief executive officer at Traeger Grills, a Salt Lake City, Utah-based maker of wood pellet grills, said Traeger's fastest-selling grill shifted from an $800 model to a $1,000 model this holiday season as consumers showed a willingness to reach deeper into their pockets.

Healthy spending is also a good sign for the economy this year.

Not all categories of retail fared well in December. Spending for the two months combined was the best since 2005.

Overall though, the IHS said the holiday sales lifts its outlook for the fourth quarter.

Sales at gasoline stations were unchanged during December after growing 3.0% in November. Fluctuations in sales often reflect changes in gas prices, not volume. The industry has been under pressure as shoppers can buy sporting goods in big box stores and online. stock is down roughly 43 percent since December 2016.

Sales were uneven across other categories last month. Apparel and accessories sales fell 0.3% from November but annual sales in the category rose 2.4% year over year in 2017, while sporting goods sales fell 1.6% from November and 0.1% year over year. Spending was up at furniture sellers, grocery stores and restaurants.

Edge ST: Ford's First Performance-Enhanced SUV Joins the Lineup
Ford has officially entered the SUV performance segment with the reveal of the new 2019 Edge ST. The 2019 Ford Edge will be built in Oakville, Ontario and should hit showrooms this summer.

Recommended

Saudi Arabia to seek extradition of corruption suspects Saudi Arabia to seek extradition of corruption suspects The kingdom's stadium had not been built with women in mind, so modifications were made so that they could attend matches. On Friday, Al-Ahli trounced Al-Batin 5-0 in the Premier League match, according to the Saudi Gazette.

Raiders owner on Jon Gruden hire: It's a big f'ing deal Raiders owner on Jon Gruden hire: It's a big f'ing deal But I still want to be very detailed in the way we play offense, I still want to be very involved in how we move the football. After all, the Raiders got two first-round picks, two second-round picks, and $8 million for letting Gruden leave on 2002.

Leonardo DiCaprio to Join Family of Tarantino's Manson Movie Leonardo DiCaprio to Join Family of Tarantino's Manson Movie The release date for the film will mark the 50th anniversary of the murder of Sharon Tate and four others on August 9, 1969. The as of yet untitled ninth picture by Quentin Tarantino about Charles Manson has picked up a huge actor for its roster.

Aguero hopes to remain at Manchester City until 2020 Aguero hopes to remain at Manchester City until 2020 He said: "They look like twins". "They (the FA) know what they have to do". "I think the team showed a lot of good things today". City enter the New Year with a commanding lead over their city rivals Manchester United and defending champions Chelsea .

California officials defy Trump's oil-drilling proposal as risky , unneeded California officials defy Trump's oil-drilling proposal as risky , unneeded Zinke emphasized that the draft plan could be narrowed in response to feedback from the public and politicians . The plan would also allow drilling in the Atlantic Ocean, the Gulf of Mexico and off the coast of Alaska.

Canada taking US NAFTA threat seriously, seeks to end… Canada taking US NAFTA threat seriously, seeks to end… Chuck Grassley also released a statement on Tuesday urging the administration to protect farmers by keeping the deal intact. Trump's proudest boast is the performance of the S&P 500 and the Dow Jones index since he became president.

Intel CEO addresses chip concerns at CES Intel CEO addresses chip concerns at CES Krzanich said that the collaboration of so many companies to the Spectre and Meltdown bugs had been "truly remarkable". SAIC is said to develop Levels 3, 4, and 5 autonomous vehicles based on Mobileye's technology.

Blaming Tyrod Taylor For Playoff Loss is Foolish at Best Blaming Tyrod Taylor For Playoff Loss is Foolish at Best And as bad as Bortles was Sunday, the Buffalo quarterbacks were even worse. "Playoff football is about you going out there to win. The Jaguars (11-6) will visit the Pittsburgh Steelers (13-3) in an AFC Divisional Playoff in Pittsburgh next Sunday.

Kellyanne Conway: We're forced to talk about Hillary, whom we never mention Kellyanne Conway: We're forced to talk about Hillary, whom we never mention Conway appeared to be referring to CNN's "Facts First" ad campaign. "Hillary was not for a strong military", Trump said Wednesday.

India sends its 100th satellite into space to watch borders India sends its 100th satellite into space to watch borders Isro's trusted workhorse PSLV will carry the weather observation "Cartosat-2" series satellite and 30 co-passengers at lift-off. Meanwhile, the launch also marked the national space agency's foray into small satellite market.

SpaceX president confirms successful launch of government spy satellite Zuma SpaceX president confirms successful launch of government spy satellite Zuma SpaceX President and COO Gwynne Shotwell issued a statement Tuesday saying the Falcon 9's part of the mission went off as planned. Zuma was built for the USA government, although it is unclear which part of the government.

Browns hire Eliot Wolf as assistant general manager Browns hire Eliot Wolf as assistant general manager The 35-year-old Wolf met with Dorsey on Tuesday after the Packers elected to hire Brian Gutekunst as their general manager. The other two were vice president of football administration Russ Ball and director of football operations Eliot Wolf .

Author stands over content of book Trump tried to stop Author stands over content of book Trump tried to stop Stating he didn't authorize access to the White House to Wolff, the book was filled with lies and calling Bannon, 'Sloppy Steve'. I've had no reason to question his mental fitness.

Judgement in third fodder scam case against Lalu Prasad on Janunary 24 Judgement in third fodder scam case against Lalu Prasad on Janunary 24 After the FIR was filed both of them surrendered, both were produced in court and were sent to judicial custody. The local daily claimed that Mahto and Yadav were serving Lalu as helper and cook.

TSX falls as NAFTA risk weighs, gold miners buck move TSX falls as NAFTA risk weighs, gold miners buck move A withdrawal notice doesn't mean Nafta would be killed - a country can give notice and then not actually leave. The Canadian loonie fell along with Mexico's peso and yields on Canada's government bonds.