U.S. Shoppers Spent Less Than Last Year
The holiday shopping season got off to a muted start as U.S. consumers reined in November spending amid a surge in coronavirus infections and new business restrictions in some states. U.S. retail sales, a measure of purchases at stores, restaurants and online, dropped a seasonally adjusted 1.1% in November from the prior month, the Commerce Department said Wednesday. October sales were revised to a decline of 0.1% from an earlier estimate of a 0.3% increase. Sales were up by 4.1% in November when compared with the same month a year ago. Restaurants, department stores and vehicle dealerships all reported sharp sales declines in November, […]
