The Commerce Department announced on Thursday that sales at U.S.
retailers increased 0.3 per cent m-o-m in November, following a downwardly
revised 0.2 per cent m-o-m fall (from -0.1 per cent m-o-m) in October.
Economists had predicted total sales would slip 0.1 per cent m-o-m in November.
According to the report, the November advance in total retail sales was
due to gains in 8 of all 13 retail categories, led by food services and
drinking places (+1.6 per cent m-o-m), sporting goods, hobby, musical instrument, and bookstores (+1.3 per cent
m-o-m), and nonstore retailers (+1.0 per cent m-o-m). These increases, however,
were partly offset by declines in 5 remaining categories, led by gasoline stations (-2.9
per cent m-o-m), and miscellaneous store retailers (-2.0 per cent m-o-m).
Excluding auto, retail sales rose 0.2 per cent m-o-m in November after a
downwardly revised flat m-o-m
performance (from +0.1 per cent m-o-m) in the previous month, being better than
economists’ forecast of a 0.1
m-o-m drop.
In y-o-y terms, U.S. retail sales surged 4.1 per cent in November after
a downwardly revised 2.2 per cent surge (from +2.5 per cent) in the previous
month. That marked the strongest annual increase in retail sales since February
(+5.3 per cent y-o-y).