The data suggest consumers remained resilient during the crucial holiday shopping season, lured by discounts and bolstered by incomes that have been rising faster than prices.US retail sales increased at a firm pace in November, bolstered by a surge in car purchases that masked more mixed spending elsewhere. The value of retail purchases, not adjusted for inflation, increased 0.7% after upward revisions to the prior two months, Commerce Department data showed Tuesday. Excluding autos, sales climbed 0.2% for a second month.
Seven of the report's 13 categories posted increases. Auto sales in November, as tracked by Ward's Automotive Group, were the strongest in over three years as interest rates came down and dealerships deployed deep year-end discounts.
E-commerce sales jumped 1.8%, as Black Friday and Cyber Monday promotions generated massive sales on platforms like Amazon.com Inc. and TikTok Shop. Receipts at building material stores rose 0.4%.
The data suggest consumers remained resilient during the crucial holiday shopping season, lured by discounts and bolstered by incomes that have been rising faster than prices. Measures of confidence have also been climbing since the November election, and some consumers have reported they could avoid higher prices from possible new tariffs imposed by the Trump administration by purchasing big-ticket items now.
