Retail sales unchanged in December from November, closing out year on a lackluster tone
BNN Bloomberg
Shoppers pulled back the pace of their spending in December from November, closing out the holiday shopping season and the year on a lackluster tone.
The report, issued by the Commerce Department on Tuesday, raised questions about shoppers’ ability to spend this year as they worry about a slowing job market and uncertainty around President Donald Trump’s tariffs and their impact on prices.
Retail sales were flat in December from November, when business was up 0.6 per cent, according to the Commerce Department. Economists were expecting a 0.4 per cent increase for December.
The report delayed more than a month because of the 43-day government shutdown.
Sales in October fell 0.1 per cent, rose 0.1 per cent in September, but jumped 0.6% in July and August and one per cent in June, according to the Commerce Department.
The retail sales figures, which are not adjusted for inflation, showed that many types of businesses including furniture and home furnishings stores as well as electronics and appliance retailers posted declines.
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