RETAIL SALES FELL BY 1.9% IN DECEMBER

Key Points:

  • 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.
Source