US retail sales rose slightly in November. The households have reduced purchases of cars that can talk about a slowdown in economic growth in the fourth quarter. According to the Commerce Department, the retail sales rose by only 0.1% after two months of steady increases. The value in October was revised down from 0.8% to 0.6%. By excluding the auto sales, gasoline, building materials and food products, the amendment also has a 0.1% up.
On an annual basis the reported increase was 3.8%, suggesting the holiday-shopping season began on better footing than in 2015 and consumers have the capacity to support the economic expansion heading into next year.
Holiday spending is off to a solid start, but gains for traditional retailers will be much weaker due to the increasing reach of online sales.” November’s annual gain was the second strongest recorded since January 2015.
The economists’ expectations for broader growth in retail sales on a monthly basis was for a value of 0.3%.
The revised down data for October show that there is some slowdown in momentum in consumer spending in the fourth quarter. For comparison, in the summer they were recorded steady increases.
However, likely the consumer spending will continue to support the US economy in the last three months of the year.
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