Retail Sales Fall More Than Expected in December – By Tim Smart (US News) / January 14, 2022
While a dip had been expected, the decline was more than expected.
Retail sales fell 1.9% in December, below expectations, as shoppers bought fewer electronics, furniture, sporting goods and clothes, the Census Bureau reported on Friday.
Economists had predicted a drop of 0.1%. For all of 2021, sales were up 19.3% above 2020’s level.
Analysts had expected a pullback from November’s revised 0.2% monthly increase, when consumers shopped early ahead of the Christmas season over worries about the availability of key items.
Adobe Digital Insights released its survey of online shopping during the holiday season earlier this week and found that there were 38 days from November onward where online sales reached $3 billion daily.
