THE US Commerce Department statistics show retail sales excluding automobiles, petrol, building materials and food services, increased 0.6 per cent in November after a 0.5 per cent rise in October while overall retail sales were up 0.7 per cent, the largest gain since March.
Economists polled by Reuters had expected core retail sales to rise 0.4 per cent last month, while they predicted all-in retail receipts to go up 0.4 per cent.
November's increase meant consumer spending, more than two-thirds of US economic activity, was accelerating in the fourth quarter after slowing in the third, partly driven by last month's bullish employment report.
This presented an upbeat view of the economy, despite a Japanese recession and slow growth in the euro zone, mainland China and emerging markets.
American clothing receipts were up 1.2 per cent, showing a good start to Christmas shopping. E-tail sales increased one per cent and sales of electronics and electric appliance were up 0.9 per cent while furniture sales were up 0.5 per cent.
Falling petrol prices, while boosting overall consumer spending, cut service station receipts 0.8 per cent. This was countered by a 1.7 per cent rise in auto sales.
Retail sales excluding gasoline stations increased 0.9 per cent. Sales building materials and garden equipment increased 1.4 per cent. Sales at restaurants and bars rose 0.7 per cent, said the report.
WORLD SHIPPING
15 December 2014 - 23:12
US Christmas shopping makes good start as November retail sales rise 0.6pc
THE US Commerce Department statistics show retail sales excluding automobiles, petrol, building materials and food services, increased 0.6 per cent in November after a 0.5 per cent rise in October while overall retail sales were up 0.7 per cent, the largest gain since March.
WORLD SHIPPING
15 December 2014 - 23:12
US Christmas shopping makes good start as November retail sales rise 0.6pc
This news 6620 hits received.
These news may also interest you