RTH - Broad Weakness In Retail Sales In December
By Robert Hughes
Retail sales and food services spending fell 1.2 percent in December following a 0.1 percent gain in November. Excluding the volatile auto and energy categories, core retail sales and food services were down 1.4 percent in December after a gain of 0.5 percent in November. Over the past year, total retail sales and food services were up 2.3 percent through December, while core retail sales and food services have increased 2.2 percent (see chart).
Weakness in December was widespread, with declines in all but two retail spending categories. Declines were led by