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U.S. Retail Sales Surge Past Forecasts
(MENAFN) American retail trade climbed 0.6% month-over-month in November, rebounding from October's 0.1% contraction, US Census Bureau data revealed Wednesday.
Market analysts had forecast a 0.5% increase, while aggregate trade volume hit $735.9 billion.
Sporting goods, musical instrument, and book stores led the surge with 1.9% gains, followed by miscellaneous store retailers at 1.7% and gasoline stations posting 1.4% growth.
Building and garden suppliers advanced 1.3%, motor vehicle dealers climbed 1%, clothing stores rose 0.9%, and food services & drinking places increased 0.6%.
Conversely, general merchandise and electronics stores showed no movement, while furniture store sales declined 0.1%.
Core Retail Metrics Advance
Retail sales excluding food services, automotive dealers, construction material outlets, and petrol stations—the key measure used for GDP calculations—advanced 0.4%.
Year-over-year, retail sales expanded 3.3%.
Market analysts had forecast a 0.5% increase, while aggregate trade volume hit $735.9 billion.
Sporting goods, musical instrument, and book stores led the surge with 1.9% gains, followed by miscellaneous store retailers at 1.7% and gasoline stations posting 1.4% growth.
Building and garden suppliers advanced 1.3%, motor vehicle dealers climbed 1%, clothing stores rose 0.9%, and food services & drinking places increased 0.6%.
Conversely, general merchandise and electronics stores showed no movement, while furniture store sales declined 0.1%.
Core Retail Metrics Advance
Retail sales excluding food services, automotive dealers, construction material outlets, and petrol stations—the key measure used for GDP calculations—advanced 0.4%.
Year-over-year, retail sales expanded 3.3%.
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