RBC reports better-than-expected retail sales in December

(Jan. 15, 2013) -- "The continued growth in retail sales during the end of the Christmas shopping period was encouraging although the pace remained modest," said Ferley. "The data are consistent with fourth-quarter 2012 consumer spending on a volumes basis rising only by 2.1 percent at an annualized rate and compares to the 1.6 percent increase recorded in the third quarter of 2012.