December Retail Sales Slide 1.9% Amid Shortages, Omicron
After spending a burst of early holiday spending in the fall that helped bolster the holiday season, Americans cut spending sharply in December due to product shortages, rising prices, and the arrival of omicron. The U.S. Commerce Department reported Friday that retail sales dropped 1.9% in December compared with 0.3% growth in November. Compared with