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%.
Trader Joe's wins legal victory after judge issues decision in dark
chocolate lawsuit
-
A U.S. District judge in California dismissed most of a lawsuit against
Trader Joe's on Wednesday. The proposed class action alleged that certain
chocolate...
4 hours ago
0 comments:
Post a Comment