Saturday February 22, 2020

Was shutdown a factor in shock US sales data?

Commerce Department figures released on Thursday showed that US retail sales fell 1.2 per cent in December from the previous month, the biggest drop since 2009

15th February, 2019
Weak US holiday sales figures shock markets. Pic: Getty

So much for a merry Christmas. That is, if you trust the numbers. Commerce Department figures released on Thursday showed that US retail sales fell 1.2 per cent in December from the previous month, the biggest drop since 2009, rather than the slight increase economists had forecast.

Even more confusing: There was a pullback in a measure based largely on internet sales, which had been expected to be the US retailing industry’s saving grace over the holiday...

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