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mahatmakanejeeves

(57,832 posts)
2. U.S. Retail Sales Fell 1.9% in December
Fri Jan 14, 2022, 09:52 AM
Jan 2022
ECONOMY | U.S. ECONOMY

U.S. Retail Sales Fell 1.9% in December

Many U.S. consumers heeded warnings about shipping delays, pushing a large share of holiday shopping season’s usual gains to earlier in year

By Gabriel T. Rubin
https://twitter.com/Rubinations
Updated Jan. 14, 2022 8:39 am ET

U.S. retail sales dropped by 1.9% in December as the Omicron variant and inflation surged, the Commerce Department said Friday. Sales grew by 16.9% last year on strong consumer demand.

Many holiday shoppers heeded warnings about shipping delays, pushing a large share of the holiday shopping season’s usual gains to earlier in the year.

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Economic Report

U.S. retail sales sink 1.9% in December in biggest decline in 10 months

Last Updated: Jan. 14, 2022 at 8:35 a.m. ET
First Published: Jan. 14, 2022 at 8:18 a.m. ET

By Jeffry Bartash

Omicron and inflation are big worries

The numbers: Sales at U.S. retailers such as Target and WalMart dropped 1.9% in the final month of 2021, as omicron spread like wildfire and shoppers confronted higher prices due to soaring inflation.

Economists polled by The Wall Street Journal had forecast a 0.1% decline in December.

If high inflation is taken into account, retail sales were even more sharply depressed in December.

Retail sales excluding auto dealers fell a sharper 2.3% last month, the government said Friday. Car sales tumbled last year after a shortage of computer chips knotted up production.

Retail sales are a big part of consumer spending and offer cues on the strength of the U.S. economy. Sales had risen sharply through most of last year before tapering off in the waning months.

{snip}

About the Author

Jeffry Bartash

jbartash@marketwatch.com
https://twitter.com/jbartash
Jeffry Bartash is a reporter for MarketWatch in Washington.
So, if I read this correctly Sherman A1 Jan 2022 #1
This Deminpenn Jan 2022 #4
Not exactly FBaggins Jan 2022 #5
A record amount of money was spent in the holiday season, House of Roberts Jan 2022 #7
Agreed Sherman A1 Jan 2022 #8
What you read in article is capitalist nonsense. Another article will tell you, think there were Alexander Of Assyria Jan 2022 #9
Sales do not "always drop after the holidays" onenote Jan 2022 #15
U.S. Retail Sales Fell 1.9% in December mahatmakanejeeves Jan 2022 #2
The sky is falling! The sky is falling! Oh wait, normal post Xmas fluctuation range? Ok then... Alexander Of Assyria Jan 2022 #10
Like it or not durablend Jan 2022 #12
That's retailer crazy math. Real math is sane. Alexander Of Assyria Jan 2022 #13
People are buying tons of stuff because they have good jobs and saved up income IronLionZion Jan 2022 #3
My gawd . . .. Lovie777 Jan 2022 #6
Oh, forgot about the hyped up supply chain nonsense. What happened to that? All fixed I guess.. Alexander Of Assyria Jan 2022 #11
Probably Ships Still Stuck Off The San Diego Port... GB_RN Jan 2022 #14
Additional information from the Commerce Dept. Report onenote Jan 2022 #16
Thanks. That helps. NT mahatmakanejeeves Jan 2022 #19
From the source. Yes, they are seasonally adjusted. No, they aren't inflation adjusted progree Jan 2022 #17
It should cool inflation a bit. roamer65 Jan 2022 #18
Maybe hoarders ran out of room Marthe48 Jan 2022 #20
I know I am going to delay a new car until at least 2026. roamer65 Jan 2022 #21
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