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15 Jan, 2021 14:08

US retail sales decline in December

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US retail sales slipped even further in December amid renewed measures to curb the spread of Covid-19 weighed on spending at restaurants and led to lower levels of foot traffic in shopping malls.

Retail sales dropped 0.7% last month, according to the Commerce Department, while data for November was revised down to show sales declining 1.4% instead of 1.1% as previously reported.

Excluding automobiles, gasoline, building materials and food services, retail sales tumbled 1.9%.

Heightened levels of new coronavirus cases and the government's ever-delayed second stimulus package were cited as fuelling the loss of economic momentum.


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Important Legal Notice about News Sources

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.