Virus-Tinted Consumer Spending Sags in November
12/16/2020
Headline retail sales dropped by -1.1% last month according to the U.S. Commerce Department as the weather cooled and virus concerns amplified. It would have been the first negative reading since April if October’s original +0.3% print had not been revised downward to -0.1%. Notable November declines were found in clothing (-6.8%), eating and drinking establishments (-4.0%), electronics (-3.5%) and vehicles and parts (-1.7%).
