WASHINGTON - Retail sales increased 0.6% in December, below economists’ estimates, as retail sales for all of 2010 increased by the largest amount in 11 years, the Commerce Department reported Friday.
December sales excluding autos increased 0.5%. Sales excluding autos and gasoline stations increased 0.4% for the month.
Economists expected retail sales would increase 0.8% and sales excluding auto would gain 0.7%, according to the median estimate from Thomson Reuters.
November retail sales were unrevised at a 0.8% increase and sales excluding autos were revised lower to a 1.0% gain from 1.2% reported last month.
Retail sales gained 6.7% in 2010, the largest increase since an 8.2% jump in 1999. Retail sales have increased for six straight months beginning in July. The only months in 2010 with sales declines were May and June, when sales fell 1.0% and 0.3% respectively.
Annual sales excluding autos rose 5.9% last year. Retail sales in 2009 fell 6.5%.
Auto sales in December rose 1.1%. Sales at general merchandise stores fell 0.7%, the largest decline since May. Building material and garden equipment sales jumped 2.0%.
