Retail sales declined 0.6% in November compared to October, the biggest decline in almost a year. For once, declining prices seem to be part of the story.
Large retailers have spent billions of dollars to woo workers. Smaller stores that can't do that expect staff shortages will lead to lost sales. They're asking shoppers to be patient.
The U.S. retail industry is setting records: workers quitting and workers hired. Wages are finally growing. And despite the pandemic devastation, brand-new stores are still opening.
Retail sales were flat in April from a month earlier as Americans spent less on things such as clothes or sporting goods but increased their spending at bars and restaurants.
Retail sales jumped nearly 10% in March, as shoppers, flush with $1,400 relief payments, are feeling more confident about venturing out. Weekly unemployment claims dropped to a pandemic low.
Retail sales dropped sharply last month after a winter storm blanketed much of the country's midsection, but forecasters expect a sharp rebound in sales.
Retail sales soared 5.3% last month compared to December, much more than anticipated, as U.S. families began receiving new federal coronavirus relief checks.
Restaurants and bars are reeling from spikes of coronavirus cases in their communities. Earlier holiday sales meant online shopping and electronics sales dipped in December. Retail sales fell 0.7%.
U.S. retail spending grew 1.9% last month, delivering a slight boost of confidence amid a recent spate of signs that the economic recovery has lost momentum from the pandemic's toll.
But U.S. shoppers spent more prudently in August and retail sales grew a tepid 0.6% from July, after extra federal jobless benefits expired and families faced a confusing back-to-school season.
People particularly stocked up on electronics and appliances, took more trips with stops at gas stations, and cautiously went out to eat as more stores and restaurants reopened.
