U.S. retail sales unexpectedly declined in December, suggesting that consumers are pulling back on spending as they face surging prices and an acceleration in COVID-19 infections.
The value of total sales decreased 1.9% from the prior month, the Commerce Department said Friday, marking the steepest drop in 10 months. Economists surveyed by Refinitv expected sales to be flat at 0%. It follows an increase of 0.2% in November, revised Commerce Department figures show.
"December was a rough month for the American consumer," said Anu Gaggar, global investment strategist for Commonwealth Financial Market. "Between higher prices, empty shelves, consumers sick from omicron, and holiday shopping pulled forward, retail activity declined even more than expected, and November numbers were also revised lower."
Restaurants and bars, which saw a stunning 41.3% annual gain in 2021, declined 0.8% in December as more Americans stayed home amid an unprecedented virus surge. Gas stations, meanwhile, saw a 41% surge in sales, but fell 0.7% in December. Gasoline prices fell 0.5% in December.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
US December Retail Sales Preview: Can dollar capitalize on upbeat data?RetailSales in the US are forecast to remain unchanged in December. Dollar has been having a difficult time finding demand this week. Market participants will pay close attention to Retail Sales Control Group print. FX Forex Trading
Lire la suite »
U.S. Retail Sales Fell 1.9% in DecemberRetail sales dropped by 1.9% in December as the Omicron variant and inflation surged, the Commerce Department said Friday. Sales grew by 16.9% last year on strong consumer demand.
Lire la suite »
Retail sales declined in final month of 2021December retail sales fell 1.9% from November.
Lire la suite »
New legislation before Congress would bar the Fed from holding retail accounts for a CBDCEmmer said, 'the Fed does not, and should not, have the authority to offer retail bank accounts.'
Lire la suite »
Boston firm to buy Edens Plaza site and bring Wayfair retail store to Wilmette: Village officialsA Boston-based real estate development firm is set to purchase the Edens Plaza site in Wilmette and lease its most prominent building. From the Pioneer Press.
Lire la suite »
Illinois Democrats propose additional funding to fight carjackings, retail theftDemocratic lawmakers in Springfield are proposing to spend more money to reduce carjackings, which have tripled in number and are more violent than ever.
Lire la suite »