The U.S. December retail sales data posted a worse-than-expected drop of 2.7%.

For all of 2008, retail sales were down 0.1% after posting a 4.1% rise in 2007. This is the worst showing in a year’s period since the retail sales data were revamped in 1993. In 2002, overall retail sales posted a 2.4% increase in their previous worst showing.

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