U.S. retail sales were virtually unchanged in December, missing economists’ forecasts and capping a fourth quarter marked by early holiday shopping that left traditional retailers struggling.
The Census Bureau reported Tuesday that retail and food service sales were flat on a seasonally adjusted basis in December, coming in well below the 0.4 percent gain expected by economists. November’s sales were revised slightly higher to show a 0.6 percent increase.
The December reading was the weakest monthly performance since October, when sales fell 0.2 percent. November saw a strong 0.6 percent gain, but December’s flat reading suggests the momentum…
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