- 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.