Virus-Tinted Consumer Spending Sags in November

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%).

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