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US retail sales unexpectedly flat in December
Flat December retail sales reflect cautious consumer sentiment and labor market stagnation, with most categories declining and a key demand measure down 0.1%, Commerce Department data show.
- On Tuesday, the Commerce Department said retail sales were unchanged in December, much weaker than the 0.4% economists projected.
- Consumer sentiment and labor-market stagnation helped curb spending, while the December reading was delayed a month by last year's government shutdown.
- Most retail categories fell, led by furniture and miscellaneous stores which declined 0.9%, while home improvement stores rose 1.2%.
- The control-group measure fell 0.1% in December, and the figures are seasonally adjusted but not inflation-adjusted, indicating weaker underlying demand, FactSet said.
- Still, flat December sales suggest Americans might be reaching their spending limits, and the story is developing with updates forthcoming.
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US consumers did not increase their spending in December compared to November, the US Commerce Department reported today in a report delayed by last year's government funding shutdown. This was affected by President Donald Trump's tariffs and inflation, as well as bad weather, US media reported.
Coverage Details
Total News Sources92
Leaning Left15Leaning Right12Center33Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 25%
C 55%
R 20%
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