- Retail sales decreased 1.1% in December, after falling 0.6% in November.
- Sales excluding vehicles fell 1.1%.
- The dollar weakens after the report and the wholesale inflation report.
The retail sales in December they fell, as expected, but at a stronger rate. The decline was 1.1%, and the market consensus was for a decline of 0.8%. In November they had fallen 0.6%.
Excluding vehicles, sales fell 1.1%, a more significant drop than expected of 0.8%. The control group sales from the retail sector fell 0.7%, more than the 0.2% expected.
Later on Wednesday, the industrial production report will be released, then wholesale inventory data and the NAHB housing index. In the American afternoon, the Federal Reserve will publish the Beige Book on the state of the economy.
The dollar The market fell back after the report, which was published at the same time as the wholesale inflation data, showed a more significant slowdown than expected.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.