Shoppers pulled back the pace of their spending in December from the previous month, closing out the holiday shopping season and the year on a lackluster note.
The report, issued by the Commerce Department on Tuesday, raises questions about shoppers’ ability to spend this year as they worry about a slowing job market and uncertainty around President Donald Trump’s tariffs and their impact on prices.
Retail sales were flat in December from November, when business was up 0.6%, according to the Commerce Department. Economists were expecting a 0.4% increase for December.
The report was delayed more than a month because of the 43-day government shutdown.
The retail sales figures, which are not adjusted for inflation, show many types of businesses, including home furnishings stores and appliance retailers, posted declines.
Among the few bright spots: building materials and garden stores, which had a small sales increase.
The snapshot offers only a partial look at consumer spending and doesn’t include many services, including travel and hotel lodgings. But the lone services category—restaurants—registered a dip of 0.1%.
Economists will be closely monitoring a slew of economic reports on jobs and prices due out later this week.
Read the full story from the Associated Press.
