Headlines

Retail Sales Drop in November

Analysts fear economic recovery may stall without stimulus

Published

4 years ago

December 16, 2020

VMSD Staff

Retail sales in the U.S. dropped 1.1 percent last month from October, according to the Commerce Department. Sales were expected to be down .3 percent month-over-month in November, according to a survey of analysts, reports CNN.

"The numbers are much weaker than expected," Gus Faucher, chief economist for PNC Financial Services Group, said in an email. "The economy looks much softer at the end of 2020."

Leading the decrease are apparel and electronics retailers and gas stations. Consumer spending at grocery stores and online was up. For the year, retail sales are up 4.1 percent overall compared to this time last year.

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