December retail sales slide 1.9% amid shortages, omicron
ABC News
Americans, beset by product shortages, rising prices and the arrival of omicron, sharply cut their spending in December after a burst of spending in the fall that helped bolster the holiday season
NEW YORK -- Americans, beset by product shortages, rising prices and the arrival of omicron, sharply cut their spending in December after a burst of early spending in the fall that helped bolster the holiday season.
Retail sales fell a seasonally adjusted 1.9% in December compared with the previous month when sales increased 0.3%, the U.S. Commerce Department said Friday.
Sales at department stores fell 7%. restaurant sales slipped 0.8% and online sales fell 8.7%.
Omicron was identified by the World Health Organization in late November, and the December report from the Commerce Department is the first to capture some of its effect on consumer behavior.
