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.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Luxury sector outlook clouded by China’s slow recovery
TikTok CEO expects to defeat US restrictions: ‘We aren’t going anywhere’
TikTok artists and advertisers to stay with app until ‘door slams shut’
Biden signs Ukraine aid, TikTok ban Bills after Republican battle
UAE announces US$544 million for rain repairs, says lessons 'learned'
HSBC says growing Chinese wealth fuels client investments in US