November U.S. retail sales rise 0.3%; broad gains

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November U.S. retail sales rise 0.3%; broad gains
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) - U.S. retail sales climbed a seasonally adjusted 0.3% in November owing to strong demand for autos and a variety of other goods, the Commerce Department said Thursday. Excluding autos, which can have an outsized impact on the report, sales were flat, as sharply lower purchases of gasoline offset increased sales of other retail goods. Economists surveyed by MarketWatch expected retail sales to increase 0.4% last month, but to decline by 0.2% minus autos. In late October, Hurricane Sandy put a dent in auto sales in the highly populated East Coast, but many would-be buyers returned to showrooms in November. Sales also rose for online retailers and stores that sell electronics, appliances, building materials, clothing, sports and leisurely goods, meals and liquor, home furnishings, over-the-counter medicine and personal-care products. Sales fell 4.0% at gas stations as the cost of fuel dropped again in November, but that's a good thing for consumers. Excluding gas and autos, retail sales jumped a solid 0.7% last month. In the past 12 months, U.S. retail sales have risen 3.7%. Sales were unrevised at a 0.3% decline in October, while the increase in September sales were revised down a notch to 1.2%.