US: Retail Sales decline by 1.1% in December vs. 0.8% fall expected

Retail Sales in the US declined more-than-expected, by 0.8% in December.
US Dollar Index remains heavily offered near a multi-month low after the data.

Haresh Menghani FXStreet

Retail Sales in the United States declined by 1.1% on a monthly basis in December. This follows November’s fall of 0.6% and misses consensus estimates for a 0.8% fall.

Excluding autos, core retail sales also contracted by 1.1% during the reported month as compared to a 0.4% fall anticipated and a modest 0.2% drop in November, pointing to a slowdown in consumer demand.

Market reaction

The US Dollar Index maintains its heavily offered tone and drops back closer to a seven-month low amid rising bets for smaller interest rate hikes by the Fed.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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