It’s good news for the American economy – retail sales throughout December rose, despite the fiscal cliff negotiations that took place in Washington, D.C. during the final weeks of 2012. This element, along with the ongoing economic recovery,created concerns among the nation’s retailers. However, the latest sales figures are actually better than was forecasted.

Bloomberg reports that according to the most recent totals from the Commerce Department, retail sales increased 0.5 percent in December from the month prior, representing the biggest gain in three months. In November, sales rose 0.4 percent after being revised upward. As for the first few months of 2013, analysts expect retail spending to still be strong, but American consumers will continue to be cautious as higher payroll taxes take effect and individuals are left with less disposable income, the source notes.

Holiday retail sales provided a lift for the increasedsales totals for December. The Associated Press reports that research from the National Retail Federation found that during November and December, consumers spent an approximate $579.8 billion on products and services for the gift giving season. This is a 3 percent gain from 2011.

This entry was posted by Retail Pro on Saturday, January 19th, 2013 at 7:42 am .