September 17, 2014
WASHINGTON (AP) - Retail sales plunged far more than expected in December, a record sixth straight monthly decline as consumers were battered by a prolonged recession, a severe credit crisis and soaring job losses.
The Commerce Department says retail sales dropped 2.7 percent last month, more than double the 1.2 percent decline that Wall Street expected.
The weakness in consumer spending has been a prime contributing factor to the economy's current swoon and analysts say they don't see that turning around soon. They predict the current recession, already the longest in a quarter-century, will continue at least until the second half of this year.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.