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US retail sales unexpectedly decline in December

by ChemOrbis Editorial Team -
  • 15/01/2015 (12:23)
According to a report released by the US Commerce Department, the country’s retail sales fell by a larger than expected amount in December. The country’s retail sales declined 0.9% in December, exceeding economists’ initial estimates, which called for a decrease of 0.1%. The US Commerce Department also revised November’s data to a 0.4% gain after initially posting an increase of 0.7%.

The larger decrease in retail sales was attributed to a 6.5% decrease in sales from gas stations in the wake of lower gas prices. The report showed that sales for electronic and appliance stores were also down 1.6% in December.

On a yearly basis, meanwhile, US retail sales rose 3.2% in December when compared to a 4.7% gain reported in November.
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