Improving auto sales
Image by FILE IMAGE
2012 was a good year for auto makers. U.S. retail sales were better than expected last month, as people wrapped up holiday shopping.
According to a government report, sales rose about half a percent in December. But a lot of the increase was thanks to a nearly two percent jump in auto sales. Car companies had their best sales year since 2007.
The numbers are important because consumer spending is responsible for more than two-thirds of the overall U.S. economy.