U.S. retail sales drop by 1.1% in December - Census Bureau

By Scott Kanowsky

Investing.com -- U.S. consumers pulled back on spending by more than expected in December, according to advance estimates from the Census Bureau on Wednesday.

Retail sales in the world's largest economy fell by 1.1% from the previous month, adding on to a downwardly revised drop of 1.0% registered in November. Economists had anticipated that the figure would slip by 0.8%.

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