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Reading: Retail Spending, Manufacturing Drop as Omicron and Inflation Surge
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The Wall Street Publication > Blog > Business > Retail Spending, Manufacturing Drop as Omicron and Inflation Surge
Business

Retail Spending, Manufacturing Drop as Omicron and Inflation Surge

Editorial Board Published January 14, 2022
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Retail Spending, Manufacturing Drop as Omicron and Inflation Surge
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U.S. retail spending and manufacturing slowed at the end of 2021 as the Covid-19 Omicron variant and inflation surged, early signs the latest complications from the pandemic could be weighing on the economy.

Sales at retail stores, online and restaurants dropped by 1.9%, damping the end of the holiday shopping season, the Commerce Department said on Friday. December’s sharp decline followed record-level retail sales that started with a 1.8% gain in October from the prior month.

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