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Markets Rattled By Weak December Retail Sales

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S&P 500 and Dow Jones Futures each fell more than 1 percent following disappointing retail sales news, while the yield on 10-year U.S. Treasuries fell to 1.79 percent.

According to the U.S. Census Bureau, December retail trade sales were down 1.1 percent (±0.5 percent) from November 2014, but 2.6 percent (±0.7 percent) above last year. Auto and other motor vehicle dealers were up 9.8 percent (±3.0 percent) from December 2013 and food services and drinking places were up 8.2 percent (±3.3 percent) from last year.

“Weakness in core retail spending is at risk of confirming the wage deterioration is more severe than perhaps thought,” Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. in New York, told Bloomberg before the report. “We had very strong job growth last year, but wage growth left something to be desired.”

 

Source: U.S. Census Bureau

 

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Posted-In: Bloomberg U.S. Census BureauNews Retail Sales Econ #s

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