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[Global Finance] U.S. retail sales rose more than expected in November

2023-12-15

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Data released by the U.S. Department of Commerce on the 14th showed that U.S. retail sales increased by 0.3% month-on-month in November this year, significantly reversing the 0.2% decline in October and the market's expected decline of 0.1%.

Data show that retail sales, excluding automobile and parts sales, increased by 0.2% month-on-month in November, which was better than market expectations of being flat month-on-month. Retail sales, excluding automobiles and parts and gasoline sales, increased 0.6% month-on-month.

During the month, gas station sales fell 2.9% as energy prices generally fell. Bar and restaurant sales increased 1.6% month-on-month. Sales at sporting goods, hobby, book and music stores increased 1.3% month-on-month. Meanwhile, online retail sales increased 1%.

Analysts believe that U.S. consumers showed "unexpected strong momentum" in November, making a good start for the holiday shopping season. At the same time, U.S. inflation levels have also shown signs of declining in recent months, which may help the U.S. economy avoid recession and achieve a "soft landing."

Andrew Hunter, deputy chief U.S. analyst at Capital Economics, said the rebound in retail sales in November further illustrates that the continued rapid decline in inflation has not come at the expense of a sharp slowdown in economic growth.

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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[Global Finance] U.S. retail sales rose more than expected in November

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