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Retail sales increase slightly in November

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Retail sales increase slightly in November

“Core” retail sales, however, jump 0.6% during the month.

Retail sales rose only 0.2% in November, according to data released by the Commerce Department today. This follows a 0.1% increase in October.

Analysts had expected a 0.3% increase in November.

However, sales excluding autos, gasoline, building materials and food services - so-called “core retail sales” - rose a healthy 0.6% in November, compared to a 0.2% increase in October.

Analysts had expected a 0.6% increase in core retail sales.

The results, particularly with respect to the core retail sales figure, along with what appears to be a strengthening employment picture, seem to provide additional impetus for the Federal Reserve to raise interests rates this month.  On the other hand, today’s producer price report for November continues to indicate tepid inflationary pressures in the underlying economy, due largely to ongoing declines in oil prices and the strength of the US dollar.

See the full report here.

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