The 0.6% m/m gain in December’s retail sales appears healthy enough, but looking past the headline there are a few concerns about the strength of consumer spending. That headline gain was principally due to a 2.4% m/m rise in motor vehicle sales and a price-related 2.0% m/m gain in the value of gasoline station sales. Building materials sales increased by 0.5% m/m.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.