Sales at U.S. retailers sank 1.1% in December --- matching the biggest decline in a year--- largely because of falling gasoline prices and fewer purchases of...
The numbers: Sales at U.S. retailers sank 1.1% in December — matching the biggest decline in a year— largely because of falling gasoline prices and fewer purchases of new cars.
Receipts fell a smaller but still steep 0.7% if auto dealers and gas stations are excluded. Car and gasoline purchases can exaggerate the ups and downs in overall retail spending. Retail sales were forecast to drop 1% last month, according to economists polled by The Wall Street Journal.Sales of new vehicles and parts, an up-and-down category, fell 1.2% last month. High prices and limited availability of vehicles crimped sales.Setting aside auto dealers and gas stations, retail sales declined 0.7% last month. That gives a better picture of retail-sales trends.
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