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US retail sales increase strongly in November
[WASHINGTON] US retail sales increased more than expected in November as the holiday shopping season got off to a brisk start, pointing to sustained strength in the economy.
The Commerce Department said on Thursday that retail sales rose 0.8 per cent last month. Data for October was revised to show sales gaining 0.5 per cent instead of the previously reported 0.2 per cent rise.
Economists polled by Reuters had forecast retail sales increasing 0.3 per cent in November.