Retail sales slip week to week

Dec. 11, 2012 at 2:34 PM

WASHINGTON, Dec. 11 (UPI) -- U.S. retail sales slipped during the week that ended Saturday, a Washington retail trade group said.

It was the second consecutive week-to-week drop in sales receipts, the International Council of Shopping Centers-Goldman Sachs weekly consumer tracking survey said.

Sales receipts slipped 0.7 percent after falling 3.1 percent in the previous week.

From the same week of 2011, sales were up 2.5 percent.

Retailers could be encouraged by a consumer survey in which 51 percent of respondents indicated they had completed their holiday shopping, while 55 percent indicated by this week of 2011 that they were done with their gift shopping.

"With only two weeks left to complete holiday shopping ahead of Christmas Day, consumers will likely step up their pace considerably by this coming weekend," the ICSC-GS report said.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Ford recalls 432,000 North American vehicles over software bug
Compact cannon for British armored vehicles
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules