Retail Sales Inched Up 0.3% in November, Slowing from Oct.'s 1.8%
Washington, DC, December 15, 2021-Advance estimates of U.S. retail and food services sales for November 2021 were $639.8 billion, an increase of 0.3% from the previous month and 18.2% above November 2020, according to the U.S. Census Bureau.
Total sales for the September 2021 through November 2021 period were up 16.2% from the same period a year ago. The September 2021 to October 2021 percent change was revised from up 1.7% to up 1.8%.
Retail trade sales were up 0.2% from October 2021 and up 16.1 %above last year. Gasoline stations were up 52.3% from November 2020, while food services and drinking places were up 37.4% from last year.
Says the Wall Street Journal, "Broadly consumer demand is strong, and is well above last year’s levels. Retail sales rose 18.2% in November from a year earlier, showing low unemployment, rising wages and savings from stimulus payments are giving Americans the capacity to spend more this year.
"Barriers stand in their way, however, with inflation at a 39-year high and supply chain and labor issues causing shortages of goods and depleted capacity in the service industry.
Related Topics:U.S. Census Bureau