WASHINGTON Dec 13 U.S. retail sales rose in
November in a sign that steady job creation is adding momentum
to consumer spending in the fourth quarter.
Sales rose 0.3 percent, the Commerce Department said on
Thursday. Economists polled by Reuters had expected an increase
of 0.5 percent.
A separate measure of sales that strips out automobiles,
gasoline and building materials rose a more healthy 0.5 percent.
That reading more closely follows the government's gauge of
consumer spending, which is a major component of economic
growth. These so-called core retail sales were flat in October,
a slight upward revision from the previously reported decline of
Economists had expected a 0.4 percent increase in core sales
The rise in overall sales was tempered by a 4 percent
decline in receipts at gasoline stations, the biggest drop since
The Commerce Department said it had received indications
from companies that superstorm Sandy had both positive and
negative effects on November's sales data.
Motor vehicle sales rose 1.4 percent. Sales at electronics
stores jumped 2.5 percent, while mail-order and Internet sales
jumped 3 percent.
(Reporting by Jason Lange; Editing by Neil Stempleman)