Stressed Consumers Cut Back During the Holidays, but Help is on the Way
01/15/2021
Consumer spending was expected to be weak, but this morning’s release of the December retail sales report was quite a bit weaker than analysts had predicted. The Commerce Department announced overall retail sales dropped by a seasonally-adjusted -0.7% in December, well short of the expected unchanged reading, while the November retail sales print was lowered from -1.1% to -1.4%.
