December retail sales slide 1.9% amid shortages, omicron
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...