U.S. RETAIL SALES FELL 1.1% IN DECEMBER, LARGEST DECLINE OF 2022

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Key Points:

  • 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.
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