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U.S. markets recover from steep losses
WASHINGTON, Dec. 9 (UPI) -- Retail sales in the United States fell 0.8 percent in the week ending Dec. 6, the International Council of Shopping Centers-USB reported Tuesday.
Sales were up 0.4 percent over the same week a year ago, but down compared with the week that began just after the post-Thanksgiving Black Friday sales event ended, the report said.
An ICSC and Goldman Sachs survey taken Dec. 4-7, showed "customers were again falling behind last year's holiday gift-buying pace," the weekly report said.
In a critical retail benchmark, respondents in the survey indicating they had their holiday shopping half done rose to 30 percent in the week, the report said.
In the same week a year ago, 33 percent of respondents indicated their shopping was half done, ICSC said.
Falling gas prices afforded consumers more money to spend, but "the recessionary drag dampened the consumers' desire to spend," the report said.
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