US retail sales rise unexpectedly in November

(Sharecast News) - Retail sales in the U.S. increased moderately last month led by purchases of motor vehicles and parts, as well as at non-store retailers. According to the Department of Commerce, in seasonally adjusted terms retail sales volumes grew by at a month-on-month pace of 0.3% in November to reach $705.7bn.

Economists had penciled in a dip of 0.1%.

October's previously reported decline was revised down by a tenth of a percentage point to show a decline of 0.2%.

Excluding motor vehicles and parts, total sales were up by 0.2% versus October and by 0.6% when gasoline station sales were also excluded.

Gasoline station sales meanwhile fell by 2.9% but those at non-store retailers were up by 1.0%, alongside a 0.9% increase in those of furniture, and a 1.6% jump in those at food services and drinking places.

-- More to follow --