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Weak US retail sales

SPX News by Allie Longford on 08:58 December 14, 2016 EST

Sales at U.S. retailers barely rose in November, but the weakness stemmed mostly from the biggest drop in sales at auto dealers in eight months.

Last month, auto sales fell 0.5 percent, the largest decline since March, after increasing 0.5 percent in October.

Retail sales rose only 0.1 percent in November, after a downwardly-revised 0.6 percent growth in October, the Commerce Department said on Wednesday. This is below the 0.3% forecast and a pause in spending after robust gains in the previous two months.

Sales were up 3.8 percent from a year ago. Excluding automobiles, gasoline, building materials and food services, retail sales also went up by 0.1 percent last month after a downwardly revised 0.6 percent increase in October.




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