TechFlow News, February 10: According to JINSHI Data, U.S. retail sales for December unexpectedly stalled, indicating that consumers exercised greater caution in their year-end spending. U.S. Department of Commerce data released on Tuesday showed that nominal (unadjusted for inflation) retail sales remained essentially flat after rising 0.6% in November. Core retail sales—excluding motor vehicle dealers and gasoline stations—also held steady. Among the 13 retail categories tracked, eight posted declines, including apparel and furniture stores; motor vehicle dealer sales also fell. Meanwhile, spending at building materials stores and sporting goods retailers increased. These figures suggest waning consumer spending momentum as the holiday shopping season drew to a close. Although many economists expect tax refunds this year to bolster early-year demand, households remain dissatisfied with persistently high living costs and continue to express concerns about the labor market. The breadth of consumer spending is also worrisome. While rising stock markets may generate wealth and stimulate demand, signs indicate that discretionary spending among lower-income Americans—whose incomes rely primarily on modest wage growth—is comparatively weaker.
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