IE Business Daily Business news for the Inland Empire.
U.S. retail sales rose 4.6 percent in December year-over-year, as the country completed is strongest holiday shopping season in several years.
GAFO-store sales – which measures sales in department stores, including furniture, electronics, clothing and sporting goods – were up 2.9 percent compared with December 2013, according to recent data from the U.S Census Bureau.
The sales increase matched the holiday shopping forecasts that were made in September, said Michael P. Niemira, chief economist with The Retail Economist LLC.
“It turned out to be a decent season overall,” Niemira said. “One of biggest surprises was in electronics, which was up 5.7 percent. That was the biggest year-over-year increases in that category since 2011.”
