US retail sales fall in December holiday shopping month
Sales of retail and food services dropped 0.9 percent from November, and the prior two months' gains were revised lower, suggesting weakness in consumer spending that accounts for about 70 percent of the country's economic output.
The December drop in sales surprised analysts, who on average had penciled in a modest 0.1 percent increase.
A steep fall in gasoline prices helped to lower the headline retail sales number, in data that is not adjusted for price changes. Sales at the pump plunged 6.5 percent.
Stripping out motor vehicles and parts sales, retail sales fell 1.0 percent in December, instead of the 0.1 percent rise expected.
Year-over-year, total December retail sales were up 3.2 percent. For all of 2014, sales were up 4.0 percent from 2013.
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