New from the Money Scoop

December Sales

The Commerce Department is reporting that shoppers cut back on their spending at the nation's retailers by 0.4 percent in December.

Shoppers backed off under the strains of a declining job market, high energy bills and a housing slump.
Economists were forecasting overall sales to be flat in December.

In 2007 retail sales rose by 4.2 %. This was down from a 5.9 % increase in 2006.


Clothing sales declined by 2 percent, the most since September 2005. Car sales and department store sales each dipped 0.4 %. Gasoline station sales dropped 1.7 %.
However, sales at furniture stores rose 0.6 % and at food and at health and beauty stores rose by 0.7 %. and sales at bars and restaurants increased 0.2%.

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