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2009 had the biggest yearly sales drop on record

Fri, 15th January, 2010 - Posted by Joshuah

Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly sales drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the recession.

A second disappointing economic report yesterday showed that the number of newly laid-off workers requesting unemployment benefits rose more than expected last week.

While many economists were puzzled by the decline in retail sales, they cautioned that the December figures do not necessarily signal a big consumer pullback and could be a blip.

Source/Full Story: Philadelphia Inquirer

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Category : Economics

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