Autos boost US retail sales in November

(Sharecast News) - US retail sales grew more quickly than anticipated in November, in large part due to a jump in outlays for motor vehicles and parts.

According to the Department of Commerce, in seasonally adjusted terms retail sales volumes grew at a month-on-month pace of $724.6bn.

Economists had forecast a rise of 0.4%.

That was in addition to an upwards one tenth of a percentage point upwards revision to the prior month's gain to 0.5%.

In year-on-year terms retail sales volumes grew by 3.8%.

Excluding autos, then retail sales were ahead by 0.2% on the month (consensus: 0.4%).

Auto sales were up by 2.6% versus October, those at non-store retailers by 1.8% and those of sporting goods by 0.9%.

Sales of food and at food services establishment shrank by 0.2% and 0.4%, respectively.

-- More to follow --