Dive Brief:

• Advance estimates from the U.S. Commerce Department say that retail sales including restaurants decreased 0.9% from November to December 2014, the largest monthly decline in 11 months. Sales increased 3.2% in December when compared to the same month in 2013. 
• The results also say that total sales for the year were up 4% from 2013, which is the smallest annual increase since 2009. 
• The Commerce Department also revised its estimate for October to November 2014 sales, from a increase of 0.7% to a 0.4% increase. 

Dive Insight:

With lower gasoline prices appearing at the end of the year, many were optimistic that sales would come in at record numbers for the past holiday season. And while many consumers certainly profited from the cut, they seem to have held on to their savings. 

Some are speculating that this report is just another piece of evidence indicating that stagnant wages are causing spending uncertainties for some Americans. But other economists take a more optimistic approach, arguing that December's less-than-stellar numbers are temporary. 

"This isn't the start of a collapse in activity," said economist Paul Diggle, in a note to Capital Economics clients, "As such, retail sales will strengthen again before too long."