US retail sales rose 0.7% in November, beating analyst estimates. The gain was driven by strong motor vehicle and auto parts sales, as well as a 1.8% increase in online shopping.
While overall sales excluding auto and gas rose 0.2%, the control group, which excludes volatile categories, increased by 0.4%. This suggests that consumers are maintaining broad-based strength in spending.
Economists note that consumer resilience is reflected in the strong retail sales performance. However, there are warning signs of potential price pressure due to new tariffs and slowing real income growth. Despite this, household sector remains in a decent financial position, and consumers are likely to continue spending into 2025.
Source: https://finance.yahoo.com/news/november-retail-sales-top-wall-streets-expectations-133350109.html