Americans cut back on retail spending for a second consecutive month in December despite inflation easing slightly during the typically busy holiday shopping season, data from the Commerce Department showed on Jan. 18. Retail sales, at $677.1 billion, fell 1.1 percent in December, which was worse than expected and marked the largest monthly decline in 2022. Data for…
Retail Sales See Largest Monthly Decline in December as Americans Battle Inflation
December Retail Sales Fall 1.1 Percent as Inflation Takes a Toll
NEW YORK—Americans cut back on spending in December, the second consecutive month they’ve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season. Retail sales fell a worse-than-expected 1.1 percent in December, following a revised 1 percent drop in November, the Commerce Department reported…
Retail Sales Drop at Start of Key Holiday Shopping Season
WASHINGTON—Americans cut back sharply on retail spending last month as the holiday shopping season began with high prices and rising interest rates forcing families, particularly lower income households, to make harder decisions about what they buy. Retail sales fell 0.6 percent from October to November after a sharp 1.3 percent rise the previous month, the…
Black Friday Weekend Saw Subdued Mall Traffic: Report
December 4, 2022
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Fewer Americans headed to shopping malls during the Black Friday weekend compared to last year, new data suggests, as rampant inflation and economic uncertainty took a toll on retailers during the shopping holiday. Indoor malls, open-air lifestyle centers, and outlet malls all saw declines in foot traffic during the weekend of Nov. 25 to 27…
Retail Sales Flat in September as Inflation Takes a Bite
NEW YORK—The pace of sales at U.S. retailers was unchanged in September from August as rising prices for rent and food chipped away at money available for other things. Retail sales were flat last month, down from a revised 0.4 percent growth in August, the Commerce Department reported Friday. Retail sales fell 0.4 percent in…
Eurozone Retail Sales Fall as Expected in August
BRUSSELS—Eurozone retail sales fell in August, data showed on Thursday, pointing to a weakness in consumer demand and underlining expectations of an approaching recession. The European Union’s statistics office Eurostat said retail sales in the 19 countries sharing the euro fell 0.3 percent month-on-month for a 2.0 percent year-on-year drop. Economists polled by Reuters had…
US Retail Sales Were Flat in July as Inflation Takes a Toll
WASHINGTON—The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many households to spend more cautiously. Retail purchases were flat after having risen 0.8 percent in June, the Commerce Department reported Wednesday. Economists had expected a slight increase in July retail sales. Still, Wednesday’s report…
Inland Empire Warehouse Region Reports Record-Low Capacity as ‘Bullwhip Effect’ Strikes US Economy
The largest warehouse market in the United States is reaching full capacity after several months of slowing retail sales, suggesting that the long-anticipated “bullwhip effect” may be starting to take hold of domestic markets. In the Inland Empire, the largest warehouse distribution market in the United States, warehouse vacancies have reached a low of 0.6…
German Retail Sales Post Biggest Year-on-Year Slump Since 1994
BERLIN—German retailers ended the first half of 2022 with the sharpest year-on-year sales drop in nearly three decades, as inflation, the Ukraine war, and the coronavirus pandemic take their toll, data showed on Monday. Retail sales in June decreased 8.8 percent in real terms compared with the same month last year, the biggest drop since…
Back-to-School Spending to Set Record on Pricier Supplies: Report
Retailers are set for the strongest back-to-school shopping season on record as inflation drives up prices of clothes and supplies and more students return to physical classrooms after two years of pandemic-led disruption, a Deloitte forecast showed. Spending is expected to jump 5.8 percent to $34.4 billion this year, Deloitte said on Thursday, citing an…
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