The Commerce Department released a report on Wednesday showing U.S. retail sales increased by more than expected in the month of December.

The report said retail sales climbed by 0.6 percent in December after rising by 0.3 percent in November. Economists had expected retail sales to advance by 0.4 percent.

Excluding a jump in sales by motor vehicle and parts dealers, retail sales rose by 0.4 percent in December after inching up by 0.2 percent in November. Ex-auto sales were expected to edge up by another 0.2 percent.

Import prices in the U.S. unexpectedly came in unchanged in the month of December, according to a report released by the Labor Department on Wednesday.

The Labor Department said import prices were unchanged in December after declining by a revised 0.5 percent in November.

Economists had expected import prices to decrease by 0.5 percent compared to the 0.4 percent drop originally reported for the previous month.

Meanwhile, the report said export prices slumped by 0.9 percent for the third consecutive month. Export prices were expected to fall by 0.6 percent.

At 9 am ET, Federal Reserve Board Governor Michelle Bowman is due to participate in a discussion on “The Path Forward for Bank Capital Reform” before the U.S. Chamber of Commerce Protect Main Street Lending Event.

Federal Reserve Vice Chair for Supervision Michael Barr is also scheduled to speak on “Cyber Risk” before the 2nd Annual Massachusetts Institute of Technology/Federal Reserve System Conference on Measuring Cyber Risk in the Financial Services Sector at 9 am ET.

At 9:15 am ET, the Federal Reserve is due to release its report on industrial production in the month of December. Industrial production is expected to come in unchanged in December after inching up by 0.2 percent in November.

The Commerce Department is scheduled to release its report on business inventories in the month of November at 10 am ET. Business inventories are expected to edge down by 0.1 percent.

Also at 10 am ET, the National Association of Home Builders is due to release its report homebuilder confidence in the month of January. The housing market index is expected to rise to 39 in January from 37 in December.

The Treasury Department is scheduled to announce the results of this month’s auction of $13 billion worth of twenty-year bonds at 1 pm ET.

At 2 pm ET, the Federal Reserve is due to release its Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts.

New York Federal Reserve President John Williams is scheduled to give opening remarks before a hybrid “An Economy that Works for All: Measurement Matters” event at the Federal Reserve Bank of New York at 3 pm ET.