Business News Asia
According to the U.S. Department of Commerce, retail sales fell 0.6% in November, the largest decline in 11 months. Analysts had expected a 0.1% decline, following a 1.3% increase in October.
Retail sales have been affected by inflation, which has led to an increase in goods prices, while savings have declined amid a weak economic outlook.
Core retail sales, which exclude sales of automobiles, gasoline, building materials and food, fell 0.2% in November after rising 0.5% in October.