US retail sales fell in December for 3rd straight month

  • Retail sales fell for a third straight month as a surge in virus cases kept people away from stores during the holiday shopping season. The report released Friday is yet another sign that the pandemic is slowing the U.S. economy. Last month, the country lost jobs for the first time since the spring.
  • Government numbers out this week reported a spike in weekly unemployment claims, indicating that rising infections are forcing businesses to cut back and lay off workers. The U.S. Commerce Department said retail sales fell a seasonally adjusted 0.7% in December from the month before.
  • Some retailers have already indicated that they had an unhappy holiday season. Department store chain Nordstrom, lingerie seller Victoria’s Secret and clothing retailer Urban Outfitters all said sales fell during the holidays.

See full story here.



Categories: Business, Government

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: