Retail Sales Stalled in December, Economists Say
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Sales at American retailers probably stalled in December, capping the weakest holiday-shopping season in five years, economists said before reports this week. Purchases were unchanged, following a 1.2% gain in November, according to the median estimate in a Bloomberg survey before the Commerce Department’s January 15 report. Other reports may show residential construction fell and inflation eased. Consumer spending, which accounts for 70% of the economy, is forecast to cool rather than collapse as the housing slump deepens.
