Retail Sales Fall For 3rd Straight Month : NPR - 0 views
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Restaurants and bars are reeling from persistent spikes of coronavirus cases and related restrictions in their communities, driving retail spending in December down for the third month in a row.
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Gas stations saw the biggest jump in spending last month, up 6.6%, as people traveled for holiday visits despite health warnings.
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Spending at restaurants and bars, meanwhile, was still down 21.2% in December compared to a year earlier,
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This was a reflection of an unusual economic downturn. Even as millions lost jobs, Americans have continued to buy and renovate homes, splurging online on devices, workout gear and pricey purchases such as appliances and furniture that drove a lot of 2020 spending.
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"We don't expect economic activity to return to pre-pandemic levels until late 2021 and employment at those levels won't return until well into 2022 and possibly 2023."
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In December, leisure and hospitality businesses lost almost half a million jobs, most of them in eating and drinking establishments.