Retail Falls in December

U.S. retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, the Commerce Department said yesterday. (The release of the December figures was delayed by the government shutdown.) Retail sales tumbled 1.2 percent, the largest decline since September 2009, when the economy was still in the depths of the recession.

Even more surprising, sales at internet sellers tumbled 3.9 percent, marking their worst performance since November 2008, in the midst of the financial crisis. Those sales had increased 2.8 percent in November. Receipts at service stations dropped by 5.1 percent, the biggest fall since February 2016, reflecting cheaper gasoline prices.

In other categories, receipts at restaurants and bars fell 0.7 percent. Spending at hobby, musical instrument and book stores fell by 4.9 percent, the biggest drop since September 2008.