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Consumer <br />Retail Sales YOY % Change <br />10.0% <br />5.0 % <br />0.0 % <br />v <br />r -5.0% <br />U <br />} -10.0% <br />0 <br />-15.0% <br />-20.0% <br />-25.0% <br />Source: US Department of Commerce <br />scb O�°c All ✓�'7 SPp <br />19 19 10 �O 11O <br />150 <br />140 <br />130 <br />120 <br />a� <br />J <br />aX, 110 <br />c <br />100 <br />90 <br />80 <br />00 <br />2O <br />Source: The Conference Board <br />Consumer Confidence <br />✓4� SPa QPc �ar ✓4Z> SPb OPc <br />_0 '70 19 10 �O 30 30 <br />Retail sales momentum slowed during the holiday shopping season. On a year -over -year basis, retail sales were up 2.9% in December versus <br />3.7% in November. On a month -over -month basis, retail sales declined 0.7% in December, following a 1.4% decline in November. The month - <br />over -month declines were broad -based in December on a seasonally adjusted basis, with outsized declines for non -store (e-commerce) sales, <br />electronic & appliance stores, food service & drinking places, and department stores. Sales at clothing and accessories stores were positive in <br />December, but this followed a sharp decline in November. Sales of motor vehicles and parts and gasoline also showed relative strength in <br />December. According to the Energy Information Administration, average US regular retail gas prices increased nearly 6% in the month. <br />Excluding vehicles and gas, retail sales fell 2.1% in December, following a 1.3% decline in November. The Consumer Confidence index declined <br />to 88.6 in Decemberfrom 92.9 in November. The index is well below pre -pandemic levels at the start of this year. <br />8 QtJ <br />15 <br />