Consumer spending accelerated in December, CNBC/NRF Retail Monitor finds

Summary

CNBC's Courtney Reagan reviewed the CNBC/NRF Retail Monitor, which showed December retail sales accelerated from November and marked a third straight month of growth. Core retail sales were even stronger, led by discretionary categories, while restaurants were the only negative category. She also discussed early 2025 strength in home-related stocks, attributing it to delayed furniture and cabinet tariffs and expectations for lower interest rates and mortgages.

• December retail sales rose 1.3% month over month, excluding autos and gas.
• Core retail sales rose 1.6% month over month and 3.6% year over year.
• Discretionary categories like sporting goods, music/books, general merchandise, and electronics led.
• Restaurants were the only declining category, down 0.3%.
• Building/garden supplies and furniture sales were weakest year over year.
• Courtney Reagan noted Lowe's, Williams-Sonoma, Pulte, and Lennar were early 2025 winners.
• She cited delayed furniture/cabinet tariffs and expected lower rates/mortgages as supports.
• Cyber Monday's December timing likely boosted December sales.