Retail Sales in U.S. Increase Less Than Forecast: Economy |
BusinessWeek - Jan 12, 2012 |
Sales at U.S. retailers rose less than projected in December, confirming forecasts for a slowdown in consumer spending at the start of 2012.
The 0.1 percent gain in purchases last month followed a 0.4 percent increase in November, according to figures from the Commerce Department released today in Washington. The median estimate in a Bloomberg News survey called for a 0.3 percent rise. Another report showed more Americans than projected filed claims for jobless benefits last week.
Merchants like Williams-Sonoma Inc. cut prices during the most important shopping season of the year amid concern stagnant wages and lower property values would hold customers back. The slowdown in demand means households are looking to rebuild savings after spending jumped early in the fourth quarter, showing further job gains are needed to fuel purchases.
Read Full Article from BusinessWeek
- Posted: 2012-01-12 14:11:12
More Stock Investor Place Top Stories |
|
|
|
Stock Investor Place Top Stories Archive |
|
|