U.S. RETAIL SALES FELL 0.7% IN DECEMBER

Key Points:

  • Retail sales dropped 0.7% in December for the third consecutive monthly decline.
  • Excluding auto and gasoline sales, retail sales fell by 2.1%.
  • December typically marks the peak of the holiday shopping season, but this year businesses are reporting mixed sales results.
  • The report followed last week’s employment release showing a decline in jobs for the first time in eight months.
  • Data for November was revised down to show sales declining 1.4% instead of 1.1% as previously reported.
  • The Right Facts will continue to monitor changes in consumer spending.
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