U.S. retail spending showed little momentum at the end of the year, with sales unexpectedly flattening in December, according to data released by the Commerce Department on Tuesday.
The report showed overall retail sales were essentially unchanged from November, following a 0.6% increase the previous month. Economists had been forecasting a 0.4% rise.
Even after excluding automobiles — where sales at motor vehicle and parts dealers edged slightly lower — retail activity remained flat in December. This followed a 0.4% gain in November, while analysts had expected ex-auto sales to increase by 0.3%.