US retail sales barely rise at start of holiday shopping
WASHINGTON — Americans increased their retail spending just slightly in November, a possible sign of lacklustre holiday shopping.
Retail sales rose only 0.1 per cent in November, after a downwardly-revised 0.6 per cent growth in October, the Commerce Department said Wednesday.
Consumers bumped up their purchases at restaurants and furnishers last month. But they also trimmed spending at auto dealers and department stores, limiting the overall advance in retail sales.
More Americans entered the holiday season poised to shop. The improving job market has pushed unemployment down to 4.6 per cent and prompted signs of accelerating wage growth. Over the past 11 months, retail sales have risen a solid 3.1 per cent compared to the same period in 2015. The greater retail sales helped support overall economic growth.