Economic Buzz: US Retail Sales Plunge By 1.9% In December

17 Jan 2022 , 08:28 AM

US retail sales tumbled by 1.9 percent in December after edging up by a revised 0.2 percent in November, a report released by the Commerce Department on Friday showed. The report showed sales by non-store retailers plummeted by 8.7 percent, while furniture and home furnishing stores, clothing and accessories stores, sporting goods, hobby, musical instrument and book stores and electronics and appliance stories also saw sharply lower sales. Sales by motor vehicle and parts dealers saw a more modest 0.4 percent drop in December after creeping up by 0.2 percent in November. Excluding auto sales, retail sales plunged by 2.3 percent in December after inching up by a revised 0.1 percent in November.

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