- Retail sales, a measure of purchases at stores, restaurants and online, fell 1.1% in December from November.
- Consensus among economists was a 0.8% decline.
- December’s 1.1% decline comes after a November was revised down to a 1.0% loss.
- Retail sales fell three of the last four months, and December’s decline was the largest of 2022.
- Excluding autos, retail sales also fell by 1.1% over the month.
- Retail sales are up 6.0% from a year prior while consumer prices advanced 6.5% from a year earlier.
- The Right Facts will continue to monitor retail sales.