United States: Retail sales growth moderates notably in November
Retail sales increased 0.3% in month-on-month seasonally-adjusted terms in November, which was down from October’s 1.8% increase. November’s weaker growth was primarily due to a fall in purchases of automobiles, electronics and health care products. This more than offset stronger purchases of food and beverages.
On an annual basis, retail sales rose 18.2% in November, which was above October’s 16.3% expansion. Meanwhile, annual average retail sales growth rose to 18.2% in November (October: +16.9%). This signals an improving trend in the retail trade sector.