December retail sales fell 1.9% from November.
December retail sales fell 1.9% from November, the Commerce Department said — considerably more than the 0.1% decrease economists had expected.In addition, the Commerce Department revised the November gain to 0.2%, down from the initially reported 0.3%.However, annual growth in retail sales was still up 16.9% in December compared to one year earlier.
Spending on furniture dropped 5.5% percent in December, while sales of electronics and appliances dropped 2.9%. Sales at restaurants and bars fell 0.8%.
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