November Retail Sales Inch Up, Slowing Compared To Past Months
Retail sales, an important measure often used to gauge consumer spending, cooled in November compared to previous months, though consumers are still spending more now than a year ago.
Retail sales—store, restaurant and online sales, but exclusive auto sales—increased a mere 0.1% from October to November to $465.5B, according to the Commerce Department. This missed Wall Street Journal analyst expectations; they anticipated 0.3% growth month-to-month.
Still, economists say holiday spending is off to a good start, the Wall Street Journal reports. However, some retailers have expressed concerns that the upset victory of President-elect Donald Trump caused consumers to be cautious in their spending earlier in the month. [WSJ]