Retail sales unchanged in December from November, closing out year on a lackluster tone
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U.S. retail sales remained unchanged in December compared to November, according to a Commerce Department report released Tuesday. This flat performance surprised economists who had anticipated a 0.4% increase despite concerns about slowing job growth and economic uncertainties. The report, delayed due to a government shutdown, revealed declines in sales for furniture, home furnishings, electronics, and appliance retailers. Building materials and garden stores experienced sales increases, while gas stations and food and beverage stores saw modest gains. The figures, which are not adjusted for inflation, offer a partial view of consumer spending, excluding many services, and come as consumer confidence has been declining.
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