The Commerce Department’s U.S. Census Bureau today released retail sales data for December 2009. Retail sales declined 0.3 percent, following strong monthly gains in October and November. Sales rose 7.0 percent at an annual rate in the fourth quarter, following a gain of 6.4 percent in the third quarter.
“While the overall trend is in the right direction, today’s retail sales data show that we have more work to do,” U.S. Commerce Secretary Gary Locke said. “The upturn in this key sector of the economy, combined with further stimulus expenditures and strong growth in exports from recoveries abroad, improve the outlook for additional domestic growth in the new year. But we will not sit passively and wait for jobs to come back. We will continue doing everything we can every single day to put Americans back to work.”
Source: U.S. Department of Commerce
