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Thursday
Jan122012

December Retail Sales Fall Short of Expectations

Brand X Pictures/Thinkstock(WASHINGTON) -- Retail sales in December rose to $400.6 billion, an increase of 0.1 percent but less than the 0.3 to 0.4 percent many economists had expected, the Commerce Department said Thursday.

Customers responded to deep discounts during the holiday season, though analysts are waiting to see if consumers will continue their spending pace in 2012.

The Commerce Department also revised November’s retail sales figure to an 0.4 percent increase from 0.2 percent.  The figure was 6.5 percent above sales in December 2010.

Retail sales were boosted in part by strong car sales in December.  Excluding automobiles, retail sales dropped 0.2 percent.

For the year, total sales increased 7.7 percent from 2010, the strongest year since 1999, Bloomberg reported.

Copyright 2012 ABC News Radio

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