U.S. retail sales fell sharply in November as the holiday shopping season got under way, posting their biggest drop in nearly a year as inflation cooled.
Sales at U.S. retail stores, online sellers, and restaurants fell by a seasonally-adjusted 0.6% in November from the previous month, the Commerce Department said Thursday. That was a slowdown from October’s robust 1.3% sales increase.
U.S. retail sales fell sharply in November as the holiday shopping season got under way, posting their biggest drop in nearly a year as inflation cooled.
Sales at U.S. retail stores, online sellers, and restaurants fell by a seasonally-adjusted 0.6% in November from the previous month, the Commerce Department said Thursday. That was a slowdown from October’s robust 1.3% sales increase.