Retail sales, which are adjusted for seasonal swings but not inflation, rose 0.3% in November from the prior month, the Commerce Department reported Thursday. Excluding sales at gasoline stations, retail sales rose by an even stronger 0.6% last month. Sales rose across most categories in November, increasing the most at restaurants, by a strong 1.6%. A strong job market begets similarly strong spending. The labor market has slowed from the robust years of 2021 and 2022, but it’s still solid.

Source: CNN December 14, 2023 14:15 UTC