"December Retail Sales Exceed Expectations, Marking Strong Start to 2024"

Retail sales in December rose 0.6%, exceeding expectations, driven by increased spending at car dealers, grocery stores, and online retailers, despite high inflation and interest rates. However, spending at gas stations, health and personal care stores, and electronics and appliance stores declined. Economists are concerned that consumers may become more cautious as student loan payments resume and credit card debt reaches record highs.