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COVID-19 surge, depleted fiscal stimulus depress U.S. retail sales

From reuters.com

U.S. retail sales fell more than expected in November, likely weighed down by raging new COVID-19 infections and decreasing household income, adding to growing signs of a slowdown in the economy’s recovery from the pandemic recession. The second straight monthly decline in retail sales reported by the Commerce Department on Wednesday could nudge Congress to agree on another fiscal stimulus package. Still, economists say more money from the government and the rollout of coronavirus vaccines would probably not stop the economy from sharply slowing down and even contracting in the first quarter of 2021. News of the weak ... (full story)

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