NEW YORK – Retail sales fell 1.1% in November, the biggest drop in seven months, as Americans held back on spending at the start of the holiday shopping season.
The report by the U.S. Commerce Department is a sign of how the pandemic is slowing the U.S. economy as retailers face tighter restrictions and people stay away from stores.
The Commerce Department on Wednesday also revised October’s report, saying that retail sales fell 0.1% that month, instead of rising 0.3% as it previously reported.
Retailers had tried to get people to shop early, with Amazon, Best Buy, Walmart and others offering holiday deals in October.