Retail Sales Rose 6.7% During 1988

Retail sales grew in 1988 at their strongest pace in four years, the government reported, but the year went out with a whimper of weak holiday sales at department stores and car dealerships.

Sales totaled $1.61 trillion for the year, up 6.7% from 1987 and the largest annual increase since a 9.8% gain in 1984, the Commerce Department said.

But despite rosy expectations for strong year-end sales by retailers and car dealers, December sales were up just 0.2% from the previous month to a seasonally adjusted $138 billion.

December’s gain was the slowest since a 0.3% drop in September that was followed by a 1.7% increase in October and a 0.9% rise in November. The figures are not adjusted for inflation.