United States: Retail sales fall at sharpest rate since December 2021 in December
Retail sales decreased 1.1% in month-on-month seasonally-adjusted terms in December, which followed November’s 1.0% decrease. December’s figure marked the worst reading since December 2021, and came on the back of sharper deteriorations in gasoline stations and general merchandise stores sales, and flatlining food and beverage sales.
On an annual basis, retail sales rose 6.0% in December, matching Novembers expansion. Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at an over one-year low of 9.2% in December, down from November’s 10.1%.