U.S. Retail Sales Jump More Than Forecast in Broad Advance
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U.S. retail sales rose more than forecast in November and the previous month was revised higher, indicating a broad strengthening of consumer demand as the holiday shopping season got under way, according to Commerce Department figures released Thursday.
The firm advance along with the October revision bodes well for consumer spending, the biggest part of the economy. Solid hiring, gains in stock prices and property values, and limited inflation are expected to sustain household demand in the final stretch of this year following two quarters of above-3 percent economic growth.