US retail sales fell 0.1 per cent in December from the previous month, the Commerce Department said this afternoon.
The drop in December retail sales was significantly smaller than expected. The consensus forecast of Wall Street economists was for retail sales to fall 1.2 per cent in the month.
Excluding cars, retail sales were down 0.1 per cent, in line with expectations. In November, retail sales were revised to a 3.0 per cent fall, smaller than the 3.7 per cent decline in the initial estimate.
Sales excluding autos fell 0.2 per cent in November, compared with the initial estimate that sales fell 0.5 per cent.
Year-on-year, retail sales in December were up 4.1 per cent.
The fall in sales in December was led by cars, building materials, petrol stations, and sporting goods retailers.
Sales at car dealerships fell 0.1 per cent in the month after plunging 10.3 per cent in November.
October car sales were close to a record. Sales in November and December were still considered strong by analysts, though the monthly comparisons show declines.
AFP