December Retail Sales Stagnate Amid Surge in Credit Card Usage

David Rosenberg, founder and president of Rosenberg Research, posted on X that December retail sales remained unchanged, despite a significant increase in credit card usage by consumers. The annual rate of credit card spending surged by nearly 13.4%, marking the highest level of holiday shopping-related credit card use in six years and only the second instance of such a surge in the past twenty-five years. Questions arise about where the funds were allocated, with speculation about potential spending on activities like sports betting.