U.S. Retail Sales Smash Expectations As Holiday Shopping Ramps UpJohn Carney 14 Dec 2023
Tis the season to be merrily shopping.
Overall retail sales rose 0.3 percent in November compared with the prior month, the Commerce Department said Thursday. Economists had forecast a decline from the month before.
Sales in November were 4.1 percent from a year earlier, outpacing inflation. The retail sales figures are seasonally adjusted to take account of the holiday shopping rush but not adjusted for changes in prices. The consumer price index rose 3.1 percent from a year ago, the Labor Department said this week.
Gasoline prices fell six percent in November, according to the consumer price index. Sales at gas stations fell 2.9 percent in November.
Excluding gas stations, retail sales rose 0.6 percent last month from October, an acceleration from the 0.1 percent increase in the prior month. Sales are up 5.4 percent compared with November of last year.
Retail sales account for around one-third of all consumer spending and are viewed as a window into the health of the household sector.
more
https://www.breitbart.com/economy/2023/12/14/retail-sales-november-2023/