Retail Sales Plummet 2.7% in December

By Martin Crutsinger

WASHINGTON -- Retail sales plunged far more than expected in December, a record sixth straight monthly decline as consumers were battered by a prolonged recession, a severe credit crisis and soaring job losses.

The Commerce Department says retail sales dropped 2.7% last month, more than double the 1.2% decline that Wall Street expected.

The weakness in consumer spending has been a prime contributing factor to the economy's current swoon and analysts say they don't see that turning around soon. They predict the current recession, already the longest in a quarter-century, will continue at least until the second half of this year.