Retail Sales Continues to Climb, Rising 0.8%
Retail sales continued to rise, increasing 0.8% in November, the Commerce Department reported Tuesday.
The fifth straight gain followed a revised 1.7% gain in October that was more than the 1.2% originally reported and the biggest in seven months.
The upturn topped economists’ forecasts of a 0.6% increase, Bloomberg reported.
Excluding automobiles, gasoline and building materials, sales rose 0.9%.
Eight of 13 major categories showed increases, including a 1.3% upturn at general merchandise stores, the most in a year.
The National Retail Federation has forecast that the November-December sales gain will be the biggest in four years, Bloomberg reported.
Almost all trucking operations depend on the health of retail sales because such sales involve nearly every type of cargo.
