US retail sales rise 0.6% to $709.9 billion in December

By Ovunc Kutlu

ISTANBUL (AA) - US retail sales rose 0.6% to $709.9 billion in December, according to advance figures released Wednesday by the Commerce Department.

The market estimate for the figure was to show a gain of 0.4%, while the November figure was revised to $706 billion for an increase of 0.3%.

On an annual basis, retail sales were up 5.6% in December, compared to the same month last year.

Total sales for the 12 months of 2023 were up 3.2% from 2022, the Commerce Department said in a statement.

The increase in monthly and annual figures indicate that consumer demand remains strong in the world's largest economy.