US retail sales post modest rise in November, as expected

According to the Departmemt of Commerce, the volume of retail sales in the States grew at a 0.2% month-on-month clip in November to reach $527.99bn (consensus: 0.3%).

Economists had projected an increase of 0.4% following an initially reported gain of 0.3% in October, which has now been revised up to show a rise of 0.4%.

Verus a year ago meanwhile, retail sales were up by 3.3%.

However, exluding automobiles and parts, a measure that some observers consider a more reliable guide to the underlying trend, retail sales edged up by only 0.1% (consensus: 0.3%).

Fashion was the weakest category, with sales down by 0.6% on the month, alongside a drop pf 0.5% in sales at sporting goods and book stores, and a 0.4% decline in those from miscellaneous store retailers.