Retail sales down in December
Posted on: Wednesday, 14 January 2009, 09:06 CST
U.S. retail sales fell more than economists expected in December, the U.S. Census Bureau reported Wednesday.
Sales for food services and retail dropped as U.S. consumers have pulled back from spending while job losses continue to plague the economy.
Analysts had expected a decrease of up to 2.1 percent, but customers spent $343.2 billion during the month, a drop of 2.7 percent on the month and a decline of 9.8 percent compared with December 2007, the government said.
Sales fell October through December, dropping 7.7 percent compared to the same period a year ago.
Sales at gasoline stations fell 35.5 percent in December compared with December 2007. The automotive industry is off 22.4 percent year-to-year, the government said.
Retail food sales dropped 0.1 percent from a year ago, while furniture sales are off 8 percent. Electronic sales increased 0.1 percent and healthcare store sales increased 4 percent from a year ago.
Source: United Press International
Related Articles
- ITW Reports Diluted Income Per Share from Continuing Operations of $0.54 in the 2008 Fourth Quarter; Results Exceed Previous Forecast but Represent a 34 Percent Decline Versus Year-Ago Quarter; Revenues Fall 5.9 Percent as Worldwide End Markets Show Signi
- Home sales jumped 6.5 percent in December
- CPI Increases 0.3 Percent in December
- Volvo Cars Reports Sales Up 9.6 Percent for December
- PECO Will Lower Its Natural Gas Rate By Almost Four Percent on December 1
- Retail Sales Up 0.9 Percent in December
- eGene Revenue Increases 85 Percent in First Quarter 2006 Compared to First Quarter 2005
- SYSCO Reports 8.7 Percent Sales Growth in Second Quarter and Diluted EPS of $0.33
- Miller Sales to Retailers Down 0.3 Percent
- Abbott Reports 17.5 Percent Sales Increase in the Second Quarter
 |
 |
User Comments (0)
RSS Feeds