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11 Dec 2014
US Advance Retail Sales in November rose at a fastest pace in eight months
FXStreet (Mumbai) - The US Census Bureau released a data today that showed seasonally adjusted advance estimates of US retail and food services sales for November at USD 449.3 billion; an increase of 0.7% from October. The September to October 2014 percent change was revised from 0.3% to 0.5%.
Details reveal, Retail trade sales rose 0.7% from October. Auto sales rose 1.7% in November, the strongest result since August. Excluding autos, retail-sales growth hit 0.5% last month, the strongest result since June. Core sales last month were lifted by the 1.2% jump in receipts at clothing stores.
Moreover, the last month’s increase indicates that consumer spending, which accounts for more than two-thirds of U.S. economic activity, accelerated in the fourth quarter, following a slowdown in July-September period.
Details reveal, Retail trade sales rose 0.7% from October. Auto sales rose 1.7% in November, the strongest result since August. Excluding autos, retail-sales growth hit 0.5% last month, the strongest result since June. Core sales last month were lifted by the 1.2% jump in receipts at clothing stores.
Moreover, the last month’s increase indicates that consumer spending, which accounts for more than two-thirds of U.S. economic activity, accelerated in the fourth quarter, following a slowdown in July-September period.