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U.S. retail sales fall in December

Xinhua, January 16, 2016 Adjust font size:

U.S. retail sales dropped in December 2015, making last year the weakest year for sales growth since the recession ended.

In December, retail sales fell 0.1 percent from the previous month, with November's growth revised to 0.4 percent from previous reading of 0.2 percent, said the Commerce Department Friday.

Motor vehicle and parts sales were unchanged in December, while sales of gasoline dropped 1.1 percent last month. Excluding the volatile auto sales, total retail sales dropped 0.1 percent in the month.

Total sales for 2015 were up 2.1 percent from 2014, the smallest gain since 2009 and well down from 3.9 percent in 2014. Excluding the auto sales, total sales in 2015 went up only 0.9 percent from 2014, far lower than the growth range of 3.1 percent in 2014.

U.S. Federal Reserve officials pointed to solid consumer spending as a factor in their decision to raise interest rate last month for the first time in nearly a decade. They expected consumer spending will continue sound growth over the coming year, with support from ongoing gains in jobs, rising income and improved household balance sheets. Endit