U.S. Sales Rise Strong 1% in December

Sales by U.S. businesses posted their strongest increase in more than a year in December, and a survey of consumer attitudes suggested more strong growth. Sales of goods across the business spectrum--from factories to wholesalers to retailers--rose 1% in December, the Commerce Department said. That was up from the 0.6% rise in November and the largest gain since a 1.1% increase in September 1997. Inventories of unsold goods held steady as hearty consumer appetites left store shelves bare and factory stockpiles depleted. The University of Michigan’s preliminary consumer sentiment index for February rose to 107.4, the highest level in 10 months, from January’s 103.9, as Americans were more upbeat about the future. Its preliminary index of consumer expectations rose to 102.4 from 95.7 last month. The preliminary index of current economic conditions fell to 115.2 from 116.8 in January. The Michigan index is based on a benchmark of 100 set in 1966.