US retail performed poorly in December

Retail sales in the U.S. sank in December in large part because of cheaper gasoline, but most stores posted weak results during the busiest month of the shopping season, government data show.

The surprisingly large decline in retail sales triggered a selloff in U.S. stocks, while foreign markets took a darker tone on fresh worries that lower oil prices aren't helping the American economy as much as predicted.

Sales at retailers dropped a seasonally adjusted 0.9% last month to mark the biggest pullback in nearly a year, the Commerce Department said Wednesday. Economists polled by MarketWatch were expecting a smaller 0.2% decline. (portfolio.hu)