US retail sales fell in December as shops endured weak Christmas trading, the latest indication that the US economy is under pressure.
Sales declined 0.4% last month compared with December 2006, the US Commerce Department said, which also downgraded November's sales figures.
It now says sales in November rose 1% instead of the initial 1.2% figure.
The weak festive retail sales figures come as a growing number analysts warn the US is now heading for a recession.
Pressure on the Fed
December's figure was worse than market expectations, which had predicted flat sales.
Read Complete Story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment