More pay, greater confidence lifts US retail sales 0.6 pct.
{{#rendered}} {{/rendered}}Americans stepped up their auto buying and holiday shopping in December, reflecting a boost in confidence after the election and a solid increase in hourly pay.
The Commerce Department says retail sales rose a seasonally adjusted 0.6 percent, following a small 0.2 percent gain in November.
Auto sales jumped 2.4 percent in December, the biggest gain since April. Gas station sales rose 2 percent, largely because of higher prices. Excluding autos and gas, retail sales overall were flat.
{{#rendered}} {{/rendered}}Still, online retailers in particular reported better sales. Consumer confidence has soared after the election, reaching the highest levels in nearly a decade. Small businesses are also more bullish. And Americans' paychecks are getting fatter: Average hourly pay rose 2.9 percent in December from a year earlier, the most in seven years.