US EditionPublished • loading... • Updated
Retail sales rose a better-than-expected 0.6% in November as the holiday season kicked into gear
Holiday shopping boosted U.S. retail sales by 0.6% in November, surpassing economists’ 0.4% forecast, with gains in clothing, online, and sporting goods stores.
- On Wednesday, the Commerce Department said U.S. retail sales rose 0.6% in November, reversing October's downwardly revised 0.1% decline.
- Holiday shopping helped lift sales as shoppers increased spending from October, despite jitters about the economy and a slowing labor market, the Commerce Department said Wednesday.
- Clothing and online sales rose as clothing and accessories stores gained 0.9% and online businesses 0.4%, while sporting goods and hobby stores climbed 1.9% and restaurants rose 0.6%. The data are seasonally adjusted but not inflation-adjusted, exceeding economists' 0.4% projection.
- The report was delayed a month by last year's historic government shutdown as federal agencies catch up, and consumer spending accounts for about two-thirds of the US economy.
- The retail snapshot offers only a partial view of spending, excluding many services like travel and hotels; monthly retail figures ranged from 0.1% in September to 1% in June.
Insights by Ground AI
Podcasts & Opinions
63 Articles
63 Articles
Coverage Details
Total News Sources63
Leaning Left7Leaning Right6Center30Last UpdatedBias Distribution70% Center
Bias Distribution
- 70% of the sources are Center
70% Center
L 16%
C 70%
14%
Factuality
To view factuality data please Upgrade to Premium
