Editor's PiCK
U.S. November retail sales rise 0.6% m/m, topping forecasts
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Summary
- U.S. retail sales rose 0.6% month on month in November last year, beating the expert forecast of 0.5%.
- The U.S. Department of Commerce said November retail sales increased 3.3% year on year, while the October figure was left unchanged at a 3.47% month-on-month rise.
- The U.S. monthly retail sales report is seen as a gauge of shifts in consumption, and Wall Street has warned that tariff-policy uncertainty and recession fears could dampen consumer sentiment.
U.S. retail sales rose 0.6% month on month in November last year, beating market expectations.
The U.S. Department of Commerce said on the 14th (local time) that U.S. retail sales increased 0.6% from the previous month in November last year. The figure came in 0.1% point above the consensus estimate (0.5%).
On a year-on-year basis, sales rose 3.3%. The October retail sales figure remained unchanged from the initial release at a 3.47% month-on-month increase.
The U.S. monthly retail sales report is an advance estimate that primarily tracks goods spending within overall consumption. It is regarded as a key gauge of shifts in consumer demand, a backbone of the U.S. economy.
On Wall Street, there have been concerns that uncertainty over tariff policy under a second Trump administration and fears of a downturn could worsen U.S. consumer sentiment and weigh on personal consumption spending.
