US Retail Sales Experience a Festive Boost

In a recent report by the US Census Bureau, it was revealed that the United States witnessed a 0.4% monthly increase in seasonally adjusted advance estimates of retail and food services sales, reaching a staggering $729.2 billion in December. This growth not only highlights the festive season's impact but also marks a 3.9% annual increase in sales.

Year-End Sales Show Promising Growth

Comparing the quarter ending in December with the same period in the previous year, there was a noticeable 3.7% increase in total sales. Furthermore, the entire year of 2024 saw a 3% rise in sales compared to 2023, indicating a steady growth trajectory in the retail sector.

Retail Trade and Nonstore Retailers Lead the Charge

Retail trade sales specifically saw a 0.6% monthly and a 4.2% annual increase. Among the standout performers were motor vehicle and parts dealers, which surged by 8.4% year-over-year, and nonstore retailers, which experienced a significant 6.0% jump. This data underscores the evolving consumer preferences and the increasing importance of online shopping platforms.