Retail sales saw a 0.2 percent increase in November, which is less than forecast, but followed a 0.1 percent gain in the previous month, Commerce Department figures showed Friday. Excluding purchases of autos and gasoline, retail purchases climbed 0.5 percent, also the biggest advance since July. Year over year, sales were up 3 percent, suggesting a stable holiday sales season.
“The growth in November really does point to a healthy consumer who at the end of the day will help retailers see solid growth, despite the economic and environmental challenges,” said Jack Kleinhenz NRF Chief Economist.
Sporting goods stores’ sales increased 0.8 percent seasonally adjusted month-to-month and 5 percent unadjusted year-over-year
“Consumers right now are getting great value for significantly less this holiday season given the deflationary environment that continues to impact overall trends in spending,” said Kleinhenz. “Additionally, the broadening of the holiday season, warmer than normal weather patterns and a shift in spending toward services remain the top challenges for retailers right now.
“All in all, the growth in November really does point to a healthy consumer who at the end of the day will help retailers see solid growth, despite the economic and environmental challenges. Retailers are well-prepared for these challenges and are keen to continue to offer their shoppers a worth-while holiday shopping experience,” continued Kleinhenz.
