December retail sales dip with outlook weak for 2008
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Sales dipped 0.4 percent last month, and consumers may pull back more.
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The weakest holiday shopping season in five years ended dismally for most retailers, stoking fears that the economy is tipping into a recession.
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US retailers are expected to post modest November sales this week, with No. 1 retailer Wal-Mart Stores Inc. already cutting its holiday outlook on high oil prices and warmer weather.
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U.S. shoppers have kept a tight grip on their wallets this holiday season with indices on Tuesday showing sluggish sales in the second week of the  season.
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Retail spending by Americans was  little changed in December as consumers anxious over the  housing slump and high oil prices held back on purchases during  the crucial holiday season, a report released on Friday showed.
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January retail sales were unexpectedly flat as motor vehicle, gasoline and electronics sales fell sharply in the post-holiday season after a December that was stronger than originally indicated, a Commerce Department report showed on Wednesday.
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Major automakers reported lower U.S.  sales for December led by a 9 percent slide at Ford Motor Co as  the industry closed out its weakest year in over a decade and  faced the prospect of deeper declines in 2008.
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Retailers felt the pinch following the Christmas trading period as sales plunged by 1.8 percent in January, the biggest monthly fall in four years, official data has shown.
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Retailers may be in for a blue Christmas this year as worries about soaring energy prices, consumers' cost-consciousness and a warmer December than last year make for lackluster holiday sales, retail analysts said.
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Retail sales fell 0.3 percent in January  --  the weakest showing in five months  --  as a big drop in demand for cars offset strength at clothing and department stores. Spending was powered mostly by consumers anxious to use holiday gift cards.
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Holiday sales are expected to rise,   though at a slower rate than last year as consumers fret about   the declining housing market, according to a National Retail   Federation economic forecast on Tuesday.
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Holiday sales are expected to rise at  their slowest pace in five years as the weak housing market and  a credit crunch temper consumer spending, the National Retail  Federation said on Thursday.
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Drugstores reported unusually weak  December sales on Thursday, weighed down by a slow flu season,  lower-priced generic drugs and sluggish sales of seasonal  items.
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Stocks tumbled after a weak sales estimate by Wal-Mart spurred concerns about the holiday shopping season.
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Stocks opened lower on Thursday after major retailers reported anemic sales growth in December, adding to worries about the economy.
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Business & money: Market continued to slow in December with prices lower than in the summer months
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The outlook for the holiday season dimmed yesterday as several of the nation&#39;s large retailers reported disappointing sales for November, which included an uninspiring Thanksgiving weekend, The Associated Press reports.