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US Retail sales rise in November despite initial expectations

Monday, Dec 18, 2023

Retail sales rose 0.3% in November, despite initial expectations for a 0.1% decrease. Consumers showed strength throughout the month as holiday shopping began. 

The consumer price index is up 0.1% on a monthly basis in November. However, consumers are more than keeping up with this and are continuing to shop despite price increases. 

Excluding autos, sales rose 0.2%. Minus autos and gas, sales rose 0.6%.

On a year-over-year basis, sales accelerated 4.1%, compared with a headline CPI rate of 3.1%. 

“The rebound in retail sales in November provides further illustration that the continued rapid decline in inflation is not coming at the cost of significantly weaker economic growth,” said Andrew Hunter, deputy chief U.S. economist at Capital Economics.

Source: November Retail Sales – CNBC
Photo Credit: Retail Sales – KSL

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