Retail Sales in December down 0.3 percent. A disappointment for economists and analysts who expected retail sales would climb up o.5%. Demand for cars, clothing and appliances very weak. The drop ends a very disappointing year.
Excluding auto sales; retail sales is down 0.2 percent analysts predicted 0.3 percent increase.
Overall, the retail sale picture is negative. For 2009 the retail sales is down 6.3 percent. That’s the lows since record kept in 1992. In 2008 retail sales was down 0.5 percent.
In October sales climbed 1.2 percent from -2 Percent in September. November sales exceeded October at 1.8 percent. The news is a set back. Retail Sales make up 70% of economic activities.