Abhoy Sarkar's Avatar
published in Blogs
Jan 18, 2023
December retail sales down -1.1%

December retail sales down -1.1%

US December retail sales slipped -1.1% to $677.1 billion, the Commerce Department data revealed, well below the Street consensus forecast of a -0.8% decrease. The November figure was revised to a decline of -1% vs. prior estimate of a -0.6% month-on-month dip.

 The figure is not adjusted for inflation. Sales of gasoline fell -0.8% as prices softened to between $3.20 and $3.50 per gallon over month, according to data from the AAA motor club, compared to a between $3.60 and $3.90 per gallon over the month of November.

The control group retail sales figure, which excludes autos, building materials, office suppliers, gas station sales and tobacco, was down -1.1%,, above analyst's expectations.

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