Washington Examiner - Political News and Conservative Analysis About Congress, the President, and the Federal Government by Zachary Halaschak, Economics Reporter
Retail sales in November fell more than economists expected as the economy begins to show signs of slowing .
Retail sales plunged by a seasonally adjusted 0.6% in November from the previous month, double the 0.3% drop that economists were predicting. The news is sure to ring alarm bells about a recession and indicates that the Federal Reserve’s aggressive interest rate hikes may be beginning to filter through the economy.
This is the third negative retail sales report in just the past five months. The year-over-year gain of 6.5% falls below the U.S. rate of inflation and is the slowest year-over-year retail sales growth in more than two years…
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