News Briefs

Suzanne Kapner of The Wall Street Journal writes that U.S. retail sales during the holiday season rose at their best pace since 2011 according to real-time credit card spending data. E-commerce sales drove the sharp growth, as consumer confidence holds near multi-decade highs and the unemployment rate near multi-decade lows. WSJ

The Wall Street Journal reports that the repatriation provisions included in the recently-signed tax bill could boost the U.S. dollar as billions of dollars in offshore holdings are brought back to the U.S. However, analysts also note that as central banks around the world begin unwinding monetary-easing policies, global interest rates are likely to rise, so the magnitude of the effect on the U.S. dollar is not clear. WSJ

According to The Wall Street Journal small, rural businesses are finding it increasingly difficult to borrow money as local banks close or consolidate. As more banks disappear from small towns, local businesses are losing their personal relationships with lenders that were crucial for obtaining credit, leaving them to borrow from larger financial institutions with more rigid lending standards. WSJ