WASHINGTON (Reuters) - A gauge of U.S. consumer spending rose more than expected in December, suggesting the economy gathered steam at the end of last year and was poised for stronger growth in 2014.
The Commerce Department said on Tuesday retail sales excluding automobiles, gasoline, building materials and food services, increased 0.7 percent last month after a 0.2 percent rise in November.
The so-called core sales correspond most closely with the consumer spending component of gross domestic product. Economists polled by Reuters had expected core retail sales to rise 0.3 percent in December.
(JCP) issued a press release declaring that sales during the holiday season were satisfactory. Moreover, the company reaffirmed its fourth-quarter fiscal 2013 guidance. Washington confirms consumer spending rose in December. Everything adds up and sound right.
Nice try at spinning the numbers in that article. First off November sales were .7% and revised down to .3% then December sales were up .2% not .7%. The .7% come out only if you take away vehicle and fuel retail sales. So in reality, November had a .3% increase and December had a .2% increase. Then of course the December number doesn't have the post-holiday returns numbers in it yet. So come next month when December gets revise that .2% gain is going to turn negative.