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U.S. retail sales fall at largest pace in 11 months

Xinhua, January 15, 2015 Adjust font size:

Retail sales in the U.S. recorded the sharpest monthly decline in 11 months in December as consumers pulled back spending.

The Commerce Department said on Wednesday retail sales fell 0.9 percent in December, 2014 after a 0.4 percent increase in November. Excluding volatile autos category, retail sales were down 1 percent in the month, following an increase of 0.1 percent in November.

Total sales for 2014 were up 4 percent from 2013, the smallest annual increase since the recession ended in 2009.

Many economists expected the falling oil price and improvement in labor market will support consumer spending. Latest figures might suggest weak income growth and gloom global economy could discourage consumers spending.

A second report from the Commerce Department showed manufacturing inventories in November, 2014, rose 0.2 percent from October, and the combined sales by manufacturers, wholesalers and retailers fell 0.2 percent in November, following a 0.3 percent decline in October. Endite