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Industry News

U.S. retail sales hit three-year high in 2017

December U.S. retail sales grew by 0.4 percent, capping off a strong year of growth, according to the Commerce Department. Retail sales for full-year 2017 grew by 4.2 percent, their strongest performance in three years. Low unemployment and strong consumer confidence helped spur this growth, reports CNBC.

Food was a key part of the holiday for many shoppers: Receipts at restaurants and bars rose by 0.7 percent, their biggest gain since January.

By Brannon Boswell

Managing Editor/SCT

Related Topics:

  • retail & retailers

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