Shoppers pulled back the pace of their spending in December from November, closing out the holiday shopping season and the year on a lackluster tone.
Retail sales were flat in December from November, when business was up 0.6%, according to the Commerce Department. Economists were expecting a 0.4% increase. The report on Wednesday was delayed more than a month because of the 43-day government shutdown.
The retail sales figures, which are not adjusted for inflation, showed that many types of businesses saw declines. The report raised questions about shoppers’ ability to spend as they worry about a slowing job market and uncertainty around President Donald Trump’s tariffs and their impact on prices.
Furniture and home furnishing stores posted a 0.9% drop, while electronics and appliance stores had a 0.4% dip. Clothing and accessories retailers registered a 0.7% decline.
The snapshot offers only a partial look at consumer spending and doesn’t include many services, including travel and hotel lodges. But the lone services category – restaurants – registered a dip of 0.1%
