Retail Sales Grew Modestly In December

Retail and food services sales for December 2024 continued to grow, proving that despite an inflationary economy, Americans are still shopping.

Retail and food services sales reached $729.2 billion, reported the U.S. Census Bureau, marking a 0.4% increase from November and a 3.9% rise from December 2023.

The growth signals the retail sector's resilience with total sales for the year up by 3.0%, with a notable 3.7% increase during October through December.

Motor vehicle and parts dealers led the growth, up 8.4% while non-store retailers racked in $1,470,815 million and saw a 6% boost compared to last year.

A WalletHub survey showed that 1 In 10 people attributed holiday shopping for making them spend over their established budgets and acquiring credit card debt.

A Mastercard report showed consumers spent more money dining out, with sales rising by 6.3% in restaurants.