US retail sales gained a much more than expected 1 per cent in November and they advanced by the strongest pace since January when auto and gasoline sales were excluded, government data today showed in a generally upbeat signal for consumer spending.
According to the Commerce Department, sales rose by 1.1 per cent, versus a 0.3 per cent decline the month before, excluding autos.
Retail sales excluding autos and also gasoline, a reading viewed as a more reliable core measure of household spending, increased 0.9 per cent. It was the largest rise since the 2.5 per cent gain notched in January.
Auto and parts sales increased 0.9 per cent, gasoline sales jumped 2.3 per cent and the crucial building material and garden equipment category mounted 1.8 per cent.
Sales at department stores and clothing stores were both flat, but gained a whopping 4.6 per cent at electronics and appliance stores. They also advanced 1.3 per cent at other retail outlets, such as electronic shopping and mail-order.
The numbers painted a generally upbeat picture that consumers kept spending at the start of the crucial holiday shopping season, backing the Federal Reserve's view that a cooler housing market has not spilled over into the wider economy.