Consumers underpin U.S. economy as retail sales rise in December

01/15/2013 | Bloomberg

U.S. retail sales finished December with a 0.5% gain, boding well for the economy heading into a new year. The largest sales gain in three months came as wholesale prices moderated, both factors that could help counterbalance higher taxes. All in all, "it looks like households are saving us from a lot worse outcome for the economy," said Jonathan Basile, a U.S. economist at Credit Suisse in New York.

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