According to the data from US Commerce Department, US retail sales keeps growing in November due to the rebound of auto sales in the US.
The data says that US retail sales increases 0.7% to $44.93 billion. The growth rate of retail sales in October was 0.5%
In November, auto and accessories sales increases 1.7%, more than 0.8% in October. Retail sales excluding automobiles, gasoline, building materials and food services, increased 0.6 percent last month after rising 0.5 percent in October. The so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. November's increase exceeded Wall Street's expectations for a 0.4 percent gain.
Consumption expenditure accounts for U.S. economic activity and is the weather vane of US weather vane. The increasing sales shows a stronger confidence and a lower unemployment rate.
