Firm Retail Sales -1.9 versus 0% Forecasted
- US firm retail sales released for the month of December
- Retail Sales actuals revised for prior months
US Retail sales from December -1.9 with initial forecast of 0%. While December Retail sales may have fallen below expectations, there is seasonality associated with holiday months since consumer spending is usually higher. Consumer spending is a large component of GPD and a more precise component is the retail sales control group decreasing by -3.5% vs expected -1.1%. With retail sales released, it completely fell below expectations.