US Retail Sales Experience a Boost in November

According to the latest report from the US Census Bureau, seasonally adjusted advance estimates of retail and food services sales in the United States saw a significant monthly increase of 0.7% in November, reaching a total of $724.6 billion. This impressive growth exceeded analysts' expectations and indicates a robust retail sector.

On a year-on-year basis, the retail and food services sales advanced by 3.8%. Additionally, total sales for the quarter ending in November rose by 2.9% compared to the same period in the previous year. The retail trade sales climbed by 0.9% on a monthly basis and by 4.1% on an annual basis, showcasing sustained growth.

Notably, nonstore retailers experienced a surge of 9.8% compared to the same period in 2023, while motor vehicle and parts dealers saw a 6.5% increase year over year. These figures highlight the diverse growth across various retail sectors.