December retail sales slide 1.9% amid shortages, omicron

Posted on AllSides January 14th, 2022
From The Center
(AP Photo/Charles Krupa, File)

Americans, beset by product shortages, rising prices and the arrival of omicron, sharply cut their spending in December after a burst of early spending in the fall that helped bolster the holiday season.

Retail sales fell a seasonally adjusted 1.9% in December compared with the previous month when sales increased 0.3%, the U.S. Commerce Department said Friday.

Sales at department stores fell 7%. restaurant sales slipped 0.8% and online sales fell 8.7%.

Omicron was identified by the World Health Organization in late November, and the December report from the Commerce...

Read full story

Associated Press

AllSides Media Bias Rating: Center
AllSides Media Bias Rating: Center
106299/83976
See full bias rating for Associated Press
Learn about media bias
https://apnews.com/article/business-consumer-spending-prices-retail-sales-consumer-behavior-8f403110f3cf71d911f7353a801a39c8

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right