US retail sales fall for a third straight month

Restrictions imposed due to coronavirus have a negative impact on the economy.

Retail sales in the United States fell for the third month in a row as restrictions imposed by local authorities connected with the coronavirus outbreak continue to affect the economy negatively.

The US Commerce Department said Friday that retail sales fell 0.7 percent in December, seasonally adjusted, from a year earlier. Retail sales also declined in October and November.

The traditional surge in sales in the run-up to the holidays did not seem to happen last year: several major retailers, including Nordstrom, Victoria’s Secret, and Urban Outfitters, announced the end of pre-holiday sales.

The bad economic news came after the publication of an equally gloomy employment report, according to which jobs in the United States fell in December for the first time since April.

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Author: Ivan Maltsev
The study of political and social problems of different countries of the world. Analysis of large companies on the world market. Observing world leaders in the political arena.
Function: Chief-Editor
Ivan Maltsev

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