US Retail Sales: Spending likely to moderate further in December – Wells Fargo By MSalordFX UnitedStates RetailSales Banks
“Consumers are feeling the pressure from inflation. Retail sales came in well-below expectations in November, rising just 0.3% over the month. Higher prices for necessities, such as food and gas, have forced hard choices in more discretionary categories, such as electronics & appliances and department stores during the holiday shopping season.
“On top of higher prices, the Omicron variant presents some downside risk to spending in December as well, particularly in the service sector.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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