United States Retail Sales Mom

US retail sales sank 1.9% mom in December, the biggest decline since February of 2021, and ending 4 straight months of strong growth amid rising omicron infections, a surge in inflation and as a large share of holiday shopping was pushed to earlier months on expectations of shipping delays. Figures compare with market forecasts of a flat reading. Biggest declines were seen in nonstore retailers (-8.7%), furniture stores (-5.5%), sporting goods (-4.3%), clothing (-3.1%), electronics (-2.9%) and general merchandise stores (-1.5%). A fall was also seen in sales at food services and drinking places (-0.8%), gasoline stations (-0.7%), food and beverages stores (-0.5%) and auto dealers (-0.4%). Year-on-year, retail sales increased 16.9% however, as historically high price increases continue to weigh.