US Retail Sales Fall 3% in December

Despite predictions of a 0.5 percent increase in retail sales for December, actual results indicate a 0.3 percent decline from November and is especially disappointing as the holiday season usually marks the strongest sales period of the year.

“Retail sales unexpectedly fell in December on broad-based weakness, suggesting holiday spending did not live up to early reports,” said Scott Hoyt at Moody’s Economy.com.

AFP News

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