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Americans Accumulate $19 Billion in Credit Card Debt in One Month

Sales in the US Register Strong Growth During the Holiday Season

In December, the US retail industry saw robust growth, surprising economists who had predicted a recession. The Department of Commerce reported a 0.6% increase in retail sales, excluding inflation, with a noteworthy 0.4% growth even when excluding auto sales. Standout performers included clothing, general merchandise stores, and e-commerce. While this positive outcome led to increased confidence in the US economy, economists remain cautious about its sustainability, anticipating a slowdown in 2024 due to factors like inflation and high borrowing costs. Control group sales, crucial for GDP calculations, also indicated positive economic growth. As the retail industry navigates potential challenges, close monitoring of economic indicators is crucial for a realistic assessment of long-term prospects.