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Sales totalled $415.7bn (£259bn) in the month, up 0.5% on the previous month, the Commerce Department said. Compared with a year earlier, sales rose 4.7%. With consumer spending accounting for about 70% of US economic activity, analysts said the figures were good news for the economy. Sales of cars and car parts rose by 1.6% from November, while sales of furniture and personal care products were 1.4% higher. The figures suggest a resilient consumer in the face of the fiscal cliff debates," said Joe Manimbo at Western Union Business Solutions. "It offers a favourable sign for fourth-quarter growth." Policymakers spent much of December trying to agree a deal to avoid the so-called fiscal cliff, which would have seen tax rises and spending cuts kick in at the beginning of January. They eventually agreed to postpone a deal pending negotiations on the size of the cuts and tax rises. Analysts said that consumer spending could suffer when the measures are implemented. FAG HCS71916C.T.P4S.UL| FAG HCS71913E.T.P4S.UL | FAG HCS71914C.T.P4S.UL | FAG HCS71912E.T.P4S.UL | FAG HCS71911E.T.P4S.UL | FAG HCS7010C.T.P4S.UL | FAG HCS71906E.T.P4S.UL | FAG HCS7008C.T.P4S.UL | FAG HCS71906C.T.P4S.UL | FAG HCS71905E.T.P4S.UL |
