Autos boost US retail sales in November
By Alexander Bueso
Date: Tuesday 17 Dec 2024
(Sharecast News) - US retail sales grew more quickly than anticipated in November, in large part due to a jump in outlays for motor vehicles and parts.
According to the Department of Commerce, in seasonally adjusted terms retail sales volumes grew at a month-on-month pace of $724.6bn.
Economists had forecast a rise of 0.4%.
That was in addition to an upwards one tenth of a percentage point upwards revision to the prior month's gain to 0.5%.
In year-on-year terms retail sales volumes grew by 3.8%.
Excluding autos, then retail sales were ahead by 0.2% on the month (consensus: 0.4%).
Auto sales were up by 2.6% versus October, those at non-store retailers by 1.8% and those of sporting goods by 0.9%.
Sales of food and at food services establishment shrank by 0.2% and 0.4%, respectively.
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