November Retail Sales Weaker Than Expected

December 13, 2011  by in UnCategorized   

By Aggregated Content in economic news on December 14, 2011 from http://c.moreover.com/click/here.pl?z5610766743&z=1250249032

U.S. retail sales rose less than expected in November as a drop in receipts for food and beverages weighed against stronger sales of motor vehicles, tempering some of the expectations of a strong holiday shopping season.

Total retail sales increased 0.2 percent after rising by an upwardly revised 0.6 percent in October, the Commerce Department said on Tuesday. Economists polled by Reuters had forecast retail sales climbing 0.6 percent last month.

"It's fairly disappointing given that all the evidence was pointing to fairly strong gains during the month," said Millan Mulraine a macro strategist at TD Securities.

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