December Retail Sales Disappoint

By Newsroom America Staff at 12 Jan 2012

(Newsroom America) -- Retail sales figures for the remaining holiday shopping season in December failed to meet expectations as consumers pulled back on spending in the latter part of the month, reports said Thursday.

Sales grew by an anemic 0.1 percent in December, falling from a 0.4 increase in the previous month, according to revised figures released by the Commerce Department.

Reuters reported that economists it had surveyed forecast retail sales growth of about 0.3 percent.

Analysts said the upwardly revised figures for November indicate shoppers most likely front-loaded holiday shopping.

Sales of autos and automobile parts fueled the bulk of December's retail figures, increasing 1.5 percent. Excluding autos, retail sales actually fell 0.2 percent in December, the first decrease since May 2010.

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