U.S. retail sales post largest decline in 11 months
U.S. retail sales recorded their largest decline in 11 months in December as demand fell almost across the board, which could temper expectations for a sharp acceleration in consumer spending in the fourth quarter, Reuters reported. The Commerce Department said on Wednesday that retail sales fell 0.9 percent last month after a 0.4 percent increase in November. It was the biggest decline since last January and exceeded economists’ expectations for only a 0.1 percent drop.
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