WASHINGTON - Retail sales rose 1.3% in November, vastly surpassing economists’ expectations, the Commerce Department reported today.
Excluding autos, sales increased 1.2% for the month while sales at motor vehicle and parts dealers rose 1.6%, following the category’s 7.1% jump in October.
However, economists polled by Thomson Reuters had expected overall retail sales to increase 0.6% in November and for sales excluding autos to increase 0.4%, according to the median estimate.
November sales were up 1.9% from a year ago.
Sales in October were revised down to a 1.1% increase from an originally reported 1.4% rise. Sales excluding autos in October were also downwardly revised to unchanged, after Commerce initially reported a 0.2% uptick for the category.
