- Retail sales, a measure of purchases at stores, restaurants and online, fell by 1.9% in December over the month.
- Consensus among economists was a 0.1% decline.
- November’s retail sales were revised down to a 0.2% increase.
- Excluding autos, retail sales fell by 2.3% over the month.
- Spending slowed in part due to rising costs as consumer prices advanced 0.5% in December from November and 7.0% from a year earlier.
- The Right Facts will continue to monitor retail sales.