Retail Sales Slump In December
By: Import User
Updated: January 14, 2009
(Washington, DC) -- Retail sales fell 2.7-percent in December as consumers cut back on holiday spending.
The Commerce Department says December's drop was the largest since October of 2007, when sales fell by 3.4-percent.
For all of 2008, sales fell by a tenth of a percent.
Not including motor vehicles and parts, sales were down by three-point-one-percent to a seasonally adjusted $343.2-billion.
Gasoline sales tumbled by just under 16-percent after dropping by a record 18.3-percent in November.
(Copyright 2009 by Newsroom Solutions)
