Retail Sales Rose As 2012 Ended; Inflation Remained In Check | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Retail Sales Rose As 2012 Ended; Inflation Remained In Check

Retail sales rose 0.5 percent in December from November, the Census Bureau says. That may be a sign that as 2012 ended consumers were still in a shopping mood even as lawmakers in Washington struggled to keep the federal government from going over the so-called fiscal cliff.

Bloomberg News says the better-than-expected sales figure, which is adjusted to hopefully smooth out the effects of the holidays and show the "real" growth, is a sign that consumers were looking "beyond the year-end budget battle among U.S. lawmakers."

"Consumers continue to spend at a decent pace," Russell Price, senior economist at Ameriprise Financial Inc. in Detroit, told Bloomberg.

Such spending is critical: Consumers purchase about 70 percent of the goods and services companies produce.

For the year, retail sales were up 5.2 percent.

Also this morning, the Bureau of Labor Statistics reported that wholesale prices declined 0.2 percent in December from November and were up just 1.3 percent for the year.

Copyright 2013 National Public Radio. To see more, visit http://www.npr.org/.

NPR

Director Mike Nichols Remembered As A Comedian, Raconteur, Charmer

Robert Siegel remembers director and film icon Mike Nichols, who died Wednesday of a heart attack at 83.
NPR

Moderate Drinker Or Alcoholic? Many Americans Fall In Between

A study from the Centers for Disease Control and Prevention finds that 1 in 3 adults drinks excessively. That means eight or more drinks per week for women, and 15 or more drinks a week for men.
NPR

'I Will Not Sit Idly By' And Other Congressional Tweets On Immigration

Congress is out of session until the first week of December, so many members are weighing in on the president's speech on Twitter and other platforms — with mixed reactions.
NPR

Keep Your Head Up: 'Text Neck' Takes A Toll On The Spine

Newly published research finds that common texting posture can put as much as 60 pounds of force on the cervical spine.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.