Plunging oil prices giving shoppers a shot in the arm
The retail sales decline of 0.9 percent in December from the previous month reported by the U.S. Department of Commerce does not indicate any weakness in the sector. Going forward, lower gas and home heating oil prices will undoubtedly boost retail sales, particularly at the mid- and lower-price points, as those consumers feel that they can now afford to splurge a bit. Consumer confidence is rising, and that will bode well for the rest of the year.
