FXstreet.com (Barcelona) - U.S. food and retail sales have posted a larger than expected decline in December, according to data released by the U.S. Commerce Department.

Sales have declined 2.7% in December, instead of the 1.2% decline forecasted by market analysts, while excluding automobiles, sales of all other products have posted a 3.1% fall, well above the 1.5% decline forecasted by the experts.

November's retail sales reading has been revised to a 2.1% fall from the 1.8% decline previously estimated, while October's reading has been revised to a 3.4% drop, from the 2.9% decline previously released.