Reflecting renewed lockdowns in some states as a result of the recent spike in new coronavirus cases, the Commerce Department released a report on Wednesday showing a steep drop in U.S. retail sales in the month of November.
The Commerce Department said retail sales tumbled by 1.1 percent in November following a revised 0.1 percent dip in October.
Economists had expected retail sales to slip by 0.3 percent compared to the 0.3 percent increase originally reported for the previous month.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.