DOC: December Retail Sales Fall 2.7 Percent
January 14, 2009
The U.S. Department of Commerce (DOC) said on Wednesday that December U.S. retail sales fell around 2.7 percent in reaction to weak demand and lower prices. It was the sixth month in a row that sales declined, the longest on record.
Only health and personal care stores managed to increase sales from November levels.
Excluding gasoline and autos, December sales were down 1.5 percent, the largest drop since September 2001. Sales at furniture stores dropped 1.8 percent.
DOC said retail sales have fallen for six months in a row, the longest decline on record.
Compared with December 2007, December 2008 sales dropped a record 9.8 percent, down 6.7 percent exculuding car sales.
The old year saw its first annual decline in retail sales since 1992, falling 0.1 percent compared with 2007.
Only health and personal care stores managed to increase sales from November levels.
Excluding gasoline and autos, December sales were down 1.5 percent, the largest drop since September 2001. Sales at furniture stores dropped 1.8 percent.
DOC said retail sales have fallen for six months in a row, the longest decline on record.
Compared with December 2007, December 2008 sales dropped a record 9.8 percent, down 6.7 percent exculuding car sales.
The old year saw its first annual decline in retail sales since 1992, falling 0.1 percent compared with 2007.
