Commerce Department Says Retail Sales Flat in December
Commerce Department report shows retail sales were unchanged in December from November after a 43-day government shutdown delayed the release.
Overview
The Commerce Department reported that retail sales were unchanged in December from November, the agency said.
Economists surveyed by FactSet had projected a 0.4% gain for December, making the flat reading a surprise, according to FactSet.
Chris Zaccarelli, chief investment officer at Northlight Asset Management, wrote in a report published Tuesday that "Consumer spending has finally caught up with consumer sentiment, and not in a good way."
Retail sales fell 0.9% at furniture and home furnishings stores and 0.9% at miscellaneous stores while building materials and garden stores rose 1.2% and restaurants declined 0.1%, according to Commerce Department figures.
Economists said they will closely monitor January jobs and consumer price reports this week, with forecasts expecting about 80,000 jobs added in January and analysts watching inflation data for signs the Federal Reserve may ease policy.
Analysis
Center-leaning sources frame the story as a cautious economic slowdown by using evaluative language ("lackluster tone"), emphasizing unexpected weakness versus forecasts, and foregrounding worried economists and retail bankruptcies. They prioritize decline examples (furniture, electronics) and context on weak job growth while noting limited bright spots, creating a tentative, risk-focused narrative.
Sources (4)
FAQ
Economists surveyed by FactSet projected a 0.4% gain for December retail sales.
Retail sales fell 0.9% at furniture and home furnishings stores and 0.9% at miscellaneous stores.
Building materials and garden stores rose 1.2%, while restaurants declined 0.1%.
The report was delayed due to a 43-day government shutdown.
Economists will closely monitor January jobs and consumer price reports, expecting about 80,000 jobs added.
History
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