Retail sales sink in December
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Retail sales in Britain dipped in December from the previous month, falling in the crucial run-up to Christmas, according to official data published Friday.
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The 2007 holiday shopping season is turning out to be the weakest in years after retailers across-the-board reported deep declines in their December sales Thursday.
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The nation's retailers slashed prices further Wednesday in hopes that a post-Christmas shopping rush will salvage holiday sales that, so far, have fallen below even modest expectations
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WAL-MART, the worldâs largest retailer, has cut its sales forecast, in the run-up to Christmas, by more than half after suffering a fall in the number of shoppers passing through its doors
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The same-store sales decline slows in November and December, and net income increases.
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Sales at U.S. retailers fell 0.4  percent in December and were less vigorous in November than  previously thought, according to a government report on Tuesday  that implied costlier energy and slumping housing prices were  taking a toll on consumers.
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Pending sales of previously owned homes fell a steeper-than-expected 1.5 percent in December, pointing to more dreary conditions for the beleaguered housing market, a real estate trade group report on Thursday showed.
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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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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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Major U.S. retailers on Thursday reported gloomy sales for the critical December shopping season, while a separate report showed new claims for jobless benefits fell unexpectedly in the latest week, somewhat easing concerns of a weakening job market.
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The pace of existing home sales in the United States fell by 2.2 percent in December to a slower-than-expected 4.89 million-unit annual rate, the National Association of Realtors said in a report on Thursday.
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Ford Motor Co  on Thursday posted  a 9 percent decline in U.S. sales for December.
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Many U.S. retailers are expected to  report disappointing December sales later this week, hurt by  everything from the challenging economy to unfavorable weather  to the calendar, which shifted more holiday sales to November.
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Business & money: Official data reveals a worse-than-expected fall in retail sales last month
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New single-family home sales fell 4.7 percent in December to its lowest rate in nearly 13 years while the median sales price dropped sharply and the inventory of unsold homes climbed, according to a government report on Monday that delivered more grim news for the battered housing sector.
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General Motors Corp  said on Thursday its U.S vehicle sales fell 5.2 percent in December as consumer demand softened amid a weak housing market and higher gas prices.
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Stocks fell sharply after an economic report showed retail sales fell in December and two large banks announced big investments from overseas amid rising losses.