COVID-19 Pressures US Retail Sales; Manufacturing Shines

COVID-19 Pressures US Retail Sales; Manufacturing Shines
A Saint Laurent store in SoHo is closed, as retail sales suffer record drop during the outbreak of the coronavirus disease (COVID-19) in New York City, N.Y., on April 15, 2020. Bryan R. Smith/Reuters
|Updated:

WASHINGTON—U.S. retail sales fell for a third straight month in December as renewed measures to slow the spread of COVID-19 triggered job losses, further evidence that the wounded economy lost considerable speed at the end of 2020.

The downturn in sales reported by the Commerce Department on Jan. 15 is, however, unlikely to push the economy back into recession, with other data showing production at factories accelerating last month. There is also cautious optimism that nearly $900 billion in additional pandemic relief provided by the government at the end of December will offer a backstop.