News
Retail Sales Up Despite Black Friday Dip
Retailers—and their landlords—got some much-needed good news today with a report that sales ticked up 0.7% percent last month. Forecasts had mostly called for a 0.4% November surge. The Census Bureau findings rebuffed dispiriting news that retail sales for the long Thanksgiving weekend had dropped 11%, to $50.9B. In fact, the most recent findings suggest that holiday shoppers have spread their sprees more evenly throughout the whole month of November, the New York Times notes.
The dramatic decline in oil prices currently rattling markets made the cheery news all the more impressive: the dollar value of gas station sales last month fell 0.8%.
