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Wednesday, January 26, 2022
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US retail sales drop 1.9 pct in December

The United States’ retail sales in December dropped by 1.9 percent from the previous month, marking the steepest monthly decline since February, the Commerce Department reported Friday. 

E-commerce took the hardest hit with a month-on-month decline of 8.7 percent, and the core retail sales in December dropped 2.3 percent compared with that of November. 

Some analysts believed that due to the rapid spread of Omicron variant plus the worst inflation in four decades, consumers’ willingness to spend was dampened. 

Therefore, in traditional shopping season like December, the retail sales were down from the previous month.

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