Weak US Retail Sales, Factory Data Heighten Recession Concer

Weak US Retail Sales, Factory Data Heighten Recession Concerns (yahoo.com)

The value of overall retail purchases broadly decreased 1.1% in December after a downwardly revised 1% drop in the prior month, Commerce Department data showed Wednesday. Separate figures showed a 1.3% decline in factory output last month that wrapped up the weakest quarter for manufacturing since the onset of the pandemic.

The 2% slump in the production of business equipment in December was the most since February 2021.