by Calculated Risk on 12/25/2008 09:45:00 PM
Thursday, December 25, 2008
From the WSJ: Retail Sales Plummet
[T]otal retail sales, excluding automobiles, fell over the year-earlier period by 5.5% in November and 8% in December through Christmas Eve, according to MasterCard Inc.'s SpendingPulse unit.These preliminary numbers suggest that retail sales in December were even weaker than in October and November.
When gasoline sales are excluded, the fall in overall retail sales is more modest: a 2.5% drop in November and a 4% decline in December.
"This will go down as the one of the worst holiday sales seasons on record," said Mary Delk, a director in the retail practice at consulting firm Deloitte LLP.
Posted by Calculated Risk on 12/25/2008 09:45:00 PM