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U.S. Retail Sales Slide Most in 10 Months on Inflation, Omicron

  • December drop of 1.9% well worse than projected 0.1% decline
  • Decrease was broad with 10 of 13 major categories weakening
Bloomberg business news
U.S. Retail Sales Slide 1.9% in December
Updated on

U.S. retail sales slumped in December by the most in 10 months, suggesting the fastest inflation in decades is taking a greater toll on consumers just as the nation confronts more coronavirus infections.

The value of overall purchases decreased 1.9%, after a revised 0.2% gain a month earlier, Commerce Department figures showed Friday. The figures aren’t adjusted for inflation, suggesting price-adjusted receipts were even weaker than the headline number.