Retail Sales Rebound in November, Surpassing Expectations
  • 4 months ago
Retail sales rose 0.3% in November, stronger than the 0.2% decline in October and better than the Dow Jones estimate for a decrease of 0.1%. Sales held up despite a 2.9% slide in receipts at gas stations, as energy prices broadly slumped during the month. Gas station sales were off 9.4% on a 12-month basis. That weakness was offset by an increase of 1.6% at bars and restaurants, a 1.3% gain at sporting goods, hobby, book and music stores, and a 1% increase at online retailers. Initial claims for unemployment insurance totaled a seasonally adjusted 202,000 for the week ended Dec. 9th, a decline of 19,000 from the previous week and the lowest total since mid-October.
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