US retail sales plunged in December as consumers struggled with the latest wave of the coronavirus pandemic, while market shortages continued due to disruptions in global supply chains.
In particular, retail sales fell 1.9% in December after a small increase of 0.2% in November, according to the US Department of Commerce. Analysts expected retail sales to remain unchanged, according to a Reuters poll.
Analysts estimate that the decline in sales is likely to continue in January as the rapid increase in cases due to the micron restricts the movement of consumers to places such as restaurants and bars.
Excluding cars, gasoline sales, building materials and catering services, sales fell 3.1%, according to government figures.
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Source From: Capital
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