The Commerce Department’s U.S. Census Bureau today released retail sales data for November 2010. Retail sales rose 0.8 percent, representing the fifth monthly consecutive increase and exceeding private-sector expectations of 0.5-percent growth. Motor vehicle sales fell 0.8 percent. Sales excluding automotive dealers increased 1.2 percent, also exceeding private-sector expectations of a 0.7-percent gain.
“Retail sales data have now shown five consecutive months of strong gains and underscore continuing growth in consumer spending,” U.S. Commerce Secretary Gary Locke said. “Retail sales is one of many positive economic indicators that confirm our economy is moving in the right direction. Through efforts like the President’s bipartisan tax cut framework, the administration is working to add momentum that will help spur job creation and support further economic growth.” Report (PDF)
Source: U.S. Department of Commerce
