U.S. retail and food services sales rose by 0.5 percent in December, according to advance estimates released on January 15 by the U.S. Census Bureau, exceeding some economists’ expectations. Overall sales growth was driven largely by a 1.6 percent increase in automobile sales, along with 1.4 percent growth for home-furnishing retailers, 1.4 percent for health and personal care stores, 1.2 percent growth for restaurants and bars, and 1.0 percent for clothing stores.  Overall, sales were up 5.2 percent for 2012 compared to 2011. Analysts note, however, that retail sales growth is projected to slow as a result of the recent payroll tax increase at the beginning of 2013.

Link: News Release