US retail sales rose 0.3% to $705.7 billion in November, according to advance figures released Thursday by the Commerce Department.
The market estimate for the figure was to show a decline of 0.1%, while the October figure was revised to $703.7 billion for a decrease of 0.2%.
Retail sales were up 4.1% in November, compared to the same month last year.
“Total sales for the September 2023 through November 2023 period were up 3.4 percent from the same period a year ago,” the Commerce Department said in a statement. The increase in monthly and annual figures indicate that consumer demand remains strong in the world’s largest economy.—AA
