Retail sales fell 1.1% in November, biggest drop in 7 months

NEW YORK (AP) — Retail sales fell 1.1% in November, the biggest drop in seven months, a sign that Americans held back on spending during the start of the holiday shopping season. The U.S. Commerce Department also revised October’s number, saying on Wednesday that retail sales actually fell 0.1% that month, instead of rising 0.3% as it previously reported. Americans have cut back on spending after losing a $600 weekly boost to unemployment checks that expired over the summer. A surge in coronavirus infections nationwide is also keeping Americans from spending.