By Megan Henney
U.S. retail sales unexpectedly declined in December, suggesting that consumers are pulling back on spending as they face surging prices and an acceleration in COVID-19 infections.
The value of total sales decreased 1.9% from the prior month, the Commerce Department said Friday, marking the steepest drop in 10 months. Economists surveyed by Refinitv expected sales to be flat at 0%. It follows an increase of 0.2% in November, revised Commerce Department figures show.
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