Holiday Shoppers Are Cutting Back. And That’s a Bad Sign For the Economy

Holiday shoppers are sending a message to retailers: Lower your prices.

U.S. shoppers pulled back on spending just as the holiday season began, a sign that high prices and rising interest rates are shifting consumer spending habits.

Retail sales fell in November by 0.6%, the biggest drop in nearly a year, after rising 1.3% in October, the Commerce Department said on Thursday. The dr…

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