Retail Sales Slip Wednesday, November 14, 4:15 PM ET
The Commmerce Department reported today that retail sales were lower by 0.3 percent, the first drop after three months of gains. Sales at auto dealers fell by 1.5 percent. Reasons for the drop included cautious spending ahead of Hurricane Sandy, as well as businesses that were closed as a result of the storm, and power outages that prevented online shopping.
Consumers may also be holding back on spending due to anxiety over the "fiscal cliff" which may lead to spending cuts and big tax increases.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.