New economic data from the United States shows that retail sales for November slightly exceeded forecasts. Monthly retail sales increased by 0.7%, surpassing the expected 0.6%. This also marked a significant improvement from the previously reported 0.1% growth, which was revised upward to 0.5%.
Year-over-year, retail sales rose by 3.8%, an improvement from the previously reported 2.85%, which has now been revised upward. This indicates that inflation-adjusted sales have turned positive for the second consecutive month, following a stretch of declines.
Excluding autos and gas, retail sales posted a modest gain of 0.2%, falling short of the forecasted 0.4%. The prior month’s figure was also adjusted upward from 0.1% to 0.2%.
The “control group” segment of retail sales, which directly contributes to the US GDP calculation, met expectations with a 0.4% increase. This reflects a recovery from the previous month’s revised decline of 0.1%.
Market Reaction: US stock futures experienced a slight uptick following the data release, while bond yields remained relatively steady but continued their upward trend. The US dollar also showed limited movement, reflecting that the reported figures were largely in line with market expectations.