U.S. Retail Sales Decline Further As COVID, Lack Of Additional Fiscal Stimulus Weigh
Dec 16, 2020
U.S. retail sales fell more than expected in November, likely weighed down by raging new Covid-19 infections and decreasing household income, adding to growing signs of a slowdown in the economy’s recovery from the pandemic recession. The second straight monthly decline in retail sales reported by the Commerce Department on Wednesday could nudge Congress to agree on another fiscal stimulus package. News of the weak start to the holiday shopping season came as Federal Reserve officials were wrapping up a two-day policy meeting. The U.S. central bank is expected to keep interest rates near zero and deliver a playbook for what might prompt the Fed to pump more money into the economy. Read more at CNBC.
